#USDJPY @ 137.743 US Dollar gains momentum while Wall Street tumbles. (Pivot Orderbook analysis)
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- US Dollar gains momentum while Wall Street tumbles.
- Japanese Yen fails to benefit from risk aversion.
- USD/JPY likely to challenge key resistance around 138.00.
The pair currently trades last at 137.743.
The previous day high was 135.99 while the previous day low was 134.52. The daily 38.2% Fib levels comes at 135.08, expected to provide support. Similarly, the daily 61.8% fib level is at 135.43, expected to provide support.
The US Dollar strengthened across the board during the American session, the day after the FOMC meeting and following weaker-than-expected US economic data. The USD/JPP jumped above 137.50, toward the weekly high, despite amid risk aversion.
The Japanese yen is among the weakest currencies of the America session as yields rise sharply in Europe and as Treasuries remain steady. In Wall Street, the Dow Jones is falling by 1.95% and the Nasdaq drops more than 2%.
Risk aversion is not helping the Yen so far on Thursday as central bank around the world continue to hike interest rates; the exception is the Bank of Japan.
In the US, economic data released on Thursday came in mixed, offering some divergence. Retail Sales fell more than expected and so did Industrial Production in November, while Initial Jobless Claims fell to 211K, the lowest level in eleven weeks.
The rally in USD/JPY sent the price near the weekly took it reached on Monday around the 138.00 zone. The pair peaked at 137.60 and is trading just a few pips below the 20-day Simple Moving Average (currently at 137.85). A consolidation above 138.00 should open the doors to more gains.
A failure to break the 138.00 zone would keep the current range 138.00/135.00 (20 and 200-day SMAs) intact. A close below 135.00 would point to more losses.
Technical Levels: Supports and Resistances
USDJPY currently trading at 137.51 at the time of writing. Pair opened at 135.26 and is trading with a change of 1.66 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 137.51 |
| 1 | Today Daily Change | 2.25 |
| 2 | Today Daily Change % | 1.66 |
| 3 | Today daily open | 135.26 |
The pair is trading below its 20 Daily moving average @ 137.93, below its 50 Daily moving average @ 142.86 , below its 100 Daily moving average @ 141.08 and above its 200 Daily moving average @ 135.36
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 137.93 |
| 1 | Daily SMA50 | 142.86 |
| 2 | Daily SMA100 | 141.08 |
| 3 | Daily SMA200 | 135.36 |
The previous day high was 135.99 while the previous day low was 134.52. The daily 38.2% Fib levels comes at 135.08, expected to provide support. Similarly, the daily 61.8% fib level is at 135.43, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 134.53, 133.79, 133.06
- Pivot resistance is noted at 136.0, 136.73, 137.47
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 135.99 |
| Previous Daily Low | 134.52 |
| Previous Weekly High | 137.86 |
| Previous Weekly Low | 134.13 |
| Previous Monthly High | 148.82 |
| Previous Monthly Low | 137.50 |
| Daily Fibonacci 38.2% | 135.08 |
| Daily Fibonacci 61.8% | 135.43 |
| Daily Pivot Point S1 | 134.53 |
| Daily Pivot Point S2 | 133.79 |
| Daily Pivot Point S3 | 133.06 |
| Daily Pivot Point R1 | 136.00 |
| Daily Pivot Point R2 | 136.73 |
| Daily Pivot Point R3 | 137.47 |
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