USD/JPY Technical Analysis: Plunges to over two-week lows, confirms a near-term bearish breakdown

   •  The pair's intraday attempted recovery, beyond the 113.00 handle failed ahead of 100-hour SMA, with bears taking back control during the early N  |  06/12/2018 14:34

   •  The pair's intraday attempted recovery, beyond the 113.00 handle failed ahead of 100-hour SMA, with bears taking back control during the early North-American session.

   •  A decisive breakthrough overnight/Asian session swing lows support, around the 112.60-55 region, was seen as a key trigger behind the latest leg of a sudden fall in the last hour.

USD/JPY 1-hourly chart

   •  The downward momentum further confirms a bearish break below a symmetrical triangle on the daily chart and favours a follow-through drop to test the 100-day SMA support.

   •  With technical indicators just starting to gain negative momentum, the pair seems vulnerable to extend the near-term downward trajectory, possibly towards challenging Oct. monthly swing low.

Daily chart


USD/JPY

Overview:
    Today Last Price: 112.44
    Today Daily change: -78 pips
    Today Daily change %: -0.689%
    Today Daily Open: 113.22
Trends:
    Previous Daily SMA20: 113.35
    Previous Daily SMA50: 113.09
    Previous Daily SMA100: 112.25
    Previous Daily SMA200: 110.52
Levels:
    Previous Daily High: 113.24
    Previous Daily Low: 112.65
    Previous Weekly High: 114.04
    Previous Weekly Low: 112.88
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 113.02
    Previous Daily Fibonacci 61.8%: 112.88
    Previous Daily Pivot Point S1: 112.83
    Previous Daily Pivot Point S2: 112.44
    Previous Daily Pivot Point S3: 112.24
    Previous Daily Pivot Point R1: 113.43
    Previous Daily Pivot Point R2: 113.63
    Previous Daily Pivot Point R3: 114.02

 

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