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 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
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• 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
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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