USD/JPY Technical Analysis: Bulls remain in control, challenging ascending trend-line hurdle
• The pair continued gaining positive traction for the third consecutive session on Friday and climbed to the 112.00 neighbourhood, or fresh YTD tops in the last hour.
• The overnight move beyond the very important 200-day SMA, for the first time since Dec. 27 was seen as a key trigger behind the pair’s follow-through surge on Friday.
• The pair is now testing a short-term ascending trend-line hurdle, which might now keep a lid on any subsequent up-move amid slightly overbought conditions hourly charts.
• However, oscillators on the daily chart support prospects for an eventual bullish breakthrough, paving the way for additional gains towards testing the 112.25 level.
USD/JPY daily chart
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USD/JPY
Overview:
Today Last Price: 111.91
Today Daily change: 44 pips
Today Daily change %: 0.39%
Today Daily Open: 111.47
Trends:
Daily SMA20: 110.46
Daily SMA50: 109.8
Daily SMA100: 111.38
Daily SMA200: 111.32
Levels:
Previous Daily High: 111.5
Previous Daily Low: 110.66
Previous Weekly High: 110.96
Previous Weekly Low: 110.42
Previous Monthly High: 111.5
Previous Monthly Low: 108.73
Daily Fibonacci 38.2%: 111.17
Daily Fibonacci 61.8%: 110.98
Daily Pivot Point S1: 110.92
Daily Pivot Point S2: 110.37
Daily Pivot Point S3: 110.08
Daily Pivot Point R1: 111.76
Daily Pivot Point R2: 112.05
Daily Pivot Point R3: 112.6