#USDJPY @ 134.783 tests 50-day EMA at 133.85; bullish-engulfing pattern hints at a potential uptrend. (Pivot Orderbook analysis)
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- USD/JPY tests 50-day EMA at 133.85; bullish-engulfing pattern hints at a potential uptrend.
- Downside risks loom, with the 100-day EMA at 132.83 in sight if 134.00 support breaks.
The pair currently trades last at 134.783.
The previous day high was 134.88 while the previous day low was 133.5. The daily 38.2% Fib levels comes at 134.03, expected to provide support. Similarly, the daily 61.8% fib level is at 134.35, expected to provide support.
The USD/JPY rises after dropping to a weekly low of 133.50, advances 0.42%, spurred by buyers stepping in at around solid technical support level. An upbeat April Nonfarm Payrolls report also lifted the US Dollar (USD) vs. the Japanese Yen (JPY) safety. At the time of writing, the USD/JPY is trading at 134.81 after dipping to a low of 133.88.
From a daily chart perspective, the USD/JPY remains neutrally biased, though testing the 50-day Exponential Moving Average at 133.85, as the pair battles on closing above the May 4 daily high of 134.85. If USD/JPY achieves a daily close above the latter, the major will form a bullish-engulfing candlestick pattern, keeping buyers hopeful of higher prices.
In that outcome, the USD/JPY next resistance would be 135.00, and the March 15 daily high at 135.11. Once cleared, the USD/JPY would have a clear path to 136.00 until testing the 200-day EMA at 136.99.
Oscillators, like the Relative Strength Index (RSI) indicator, aim up and is still above neutral territory. The Rate of Change (RoC) of the last three days suggests that sellers are losing momentum. Therefore, the USD/JPY would continue to uptrend.
However, if USD/JPY falls below 134.00, it would expose the 50-day EMA at 133.85, followed by the 133.00 figure. Downside risks would pave the way toward the 100-day EMA At 132.83.
Technical Levels: Supports and Resistances
USDJPY currently trading at 134.77 at the time of writing. Pair opened at 134.28 and is trading with a change of 0.36 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 134.77 |
| 1 | Today Daily Change | 0.49 |
| 2 | Today Daily Change % | 0.36 |
| 3 | Today daily open | 134.28 |
The pair is trading above its 20 Daily moving average @ 134.28, above its 50 Daily moving average @ 133.92 , above its 100 Daily moving average @ 132.86 and below its 200 Daily moving average @ 136.98
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 134.28 |
| 1 | Daily SMA50 | 133.92 |
| 2 | Daily SMA100 | 132.86 |
| 3 | Daily SMA200 | 136.98 |
The previous day high was 134.88 while the previous day low was 133.5. The daily 38.2% Fib levels comes at 134.03, expected to provide support. Similarly, the daily 61.8% fib level is at 134.35, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 133.56, 132.84, 132.19
- Pivot resistance is noted at 134.94, 135.6, 136.31
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 134.88 |
| Previous Daily Low | 133.50 |
| Previous Weekly High | 136.56 |
| Previous Weekly Low | 133.01 |
| Previous Monthly High | 136.56 |
| Previous Monthly Low | 130.63 |
| Daily Fibonacci 38.2% | 134.03 |
| Daily Fibonacci 61.8% | 134.35 |
| Daily Pivot Point S1 | 133.56 |
| Daily Pivot Point S2 | 132.84 |
| Daily Pivot Point S3 | 132.19 |
| Daily Pivot Point R1 | 134.94 |
| Daily Pivot Point R2 | 135.60 |
| Daily Pivot Point R3 | 136.31 |
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