#USDJPY @ 136.450 -imp levels: takes offers to refresh intraday low during a two-day pullback from monthly high.
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- USD/JPY takes offers to refresh intraday low during a two-day pullback from monthly high.
- Fortnight-old ascending trend line, 61.8% Fibonacci retracement level limit further declines.
- 200-SMA, five-week-long horizontal support appears a tough nut to crack for bears.
- Monthly high guards recovery moves ahead of July’s peak.
The pair currently trades last at 136.450.
The previous day high was 137.71 while the previous day low was 135.81. The daily 38.2% Fib levels comes at 136.54, expected to provide resistance. Similarly, the daily 61.8% fib level is at 136.99, expected to provide resistance.
USD/JPY portrays a two-day downtrend, after refreshing the monthly peak, as it refreshes the daily low around 136.35 heading into Wednesday’s European session.
In doing so, the yen pair traces the pullback in RSI (14) and the bearish MACD signals to keep intraday sellers hopeful.
However, an upward sloping support line from August 11, near 136.15, restricts the immediate downside of the pair.
Following that, the 61.8% Fibonacci retracement level of the July-August south-run, near the 136.00 threshold.
It’s worth noting, however, that a convergence of the 200-SMA and a horizontal area comprising multiple levels marked since July 22, around 135.60-70, seems the notable challenge for USD/JPY bears.
Meanwhile, recovery moves may initially aim for the daily high surrounding the 137.00 round figure before challenging the monthly peak marked the previous day near 137.65.
In a case where USD/JPY bulls keep reins past 137.65, the late July swing high near 138.90 and the previous monthly top near 139.40 could probe buyers targeting the 140.00 psychological magnet.
Trend: Recovery expected
Technical Levels: Supports and Resistances
USDJPY currently trading at 136.49 at the time of writing. Pair opened at 136.82 and is trading with a change of -0.24% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 136.49 |
| 1 | Today Daily Change | -0.33 |
| 2 | Today Daily Change % | -0.24% |
| 3 | Today daily open | 136.82 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 134.49, 50 SMA 135.56, 100 SMA @ 132.26 and 200 SMA @ 124.02.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 134.49 |
| 1 | Daily SMA50 | 135.56 |
| 2 | Daily SMA100 | 132.26 |
| 3 | Daily SMA200 | 124.02 |
The previous day high was 137.71 while the previous day low was 135.81. The daily 38.2% Fib levels comes at 136.54, expected to provide resistance. Similarly, the daily 61.8% fib level is at 136.99, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 135.85, 134.88, 133.95
- Pivot resistance is noted at 137.75, 138.68, 139.65
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 137.71 |
| Previous Daily Low | 135.81 |
| Previous Weekly High | 137.23 |
| Previous Weekly Low | 132.56 |
| Previous Monthly High | 139.39 |
| Previous Monthly Low | 132.50 |
| Daily Fibonacci 38.2% | 136.54 |
| Daily Fibonacci 61.8% | 136.99 |
| Daily Pivot Point S1 | 135.85 |
| Daily Pivot Point S2 | 134.88 |
| Daily Pivot Point S3 | 133.95 |
| Daily Pivot Point R1 | 137.75 |
| Daily Pivot Point R2 | 138.68 |
| Daily Pivot Point R3 | 139.65 |
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