USD/JPY Technical Analysis: Set-up favours a move towards 55-DMA/61.8% Fibo. confluence hurdle

   •  The pair finally broke out of its multi-day consolidative trading range, held over the past one week or so, and jumped to fresh YTD tops during  |  11/02/2019 11:08

   •  The pair finally broke out of its multi-day consolidative trading range, held over the past one week or so, and jumped to fresh YTD tops during the mid-European session on Monday.

   •  A sustained move beyond the key 110.00 psychological mark was seen as a key trigger for intraday bullish traders and the latest leg of a sudden pickup over the past couple of hours.

   •  Technical indicators on the 4-hourly chart maintained their bullish bias and have also started gaining positive traction on the daily chart, supporting an extension of the positive momentum.

   •  The set-up now favours a move towards challenging an important confluence resistance - comprising of 55-day SMA and 61.8% Fibonacci retracement level of the 114.21-104.69 downfall.

   •  Despite the constructive outlook, slightly overbought conditions on the 1-hourly chart might turn out to be the only factor keeping a lid on any further up-move amid the prevalent risk-off mood.

USD/JPY daily chart

USD/JPY

Overview:
    Today Last Price: 110.19
    Today Daily change %: 0.36%
    Today Daily Open: 109.8
Trends:
    Daily SMA20: 109.42
    Daily SMA50: 110.41
    Daily SMA100: 111.74
    Daily SMA200: 111.27
Levels:
    Previous Daily High: 109.9
    Previous Daily Low: 109.65
    Previous Weekly High: 110.16
    Previous Weekly Low: 109.43
    Previous Monthly High: 110
    Previous Monthly Low: 104.75
    Daily Fibonacci 38.2%: 109.74
    Daily Fibonacci 61.8%: 109.8
    Daily Pivot Point S1: 109.66
    Daily Pivot Point S2: 109.53
    Daily Pivot Point S3: 109.41
    Daily Pivot Point R1: 109.92
    Daily Pivot Point R2: 110.03
    Daily Pivot Point R3: 110.17

 

Share

Popular News

Show More Popular News

Sentiment

Open a Demo Account Open A Live Account

Losses can exceed deposits

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com