USD/JPY Technical Analysis: Drops to 110.00 neighborhood, fresh 4-month lows
• After an initial uptick to mid-110.00s, the pair met with some fresh supply and accelerated the fall to fresh four-month lows in the last hour.
• The post-Christmas decline has been along a descending trend-channel on the 1-hourly chart, suggesting a well-established bearish trajectory.
• With technical indicators on hourly/daily charts gradually drifting into oversold territory, the downfall is likely to pause near the channel support.
USD/JPY 1-hourly chart
-636818424741052954.png)
USD/JPY
Overview:
Today Last Price: 110.08
Today Daily change: -13 pips
Today Daily change %: -0.118%
Today Daily Open: 110.21
Trends:
Previous Daily SMA20: 112.27
Previous Daily SMA50: 112.78
Previous Daily SMA100: 112.38
Previous Daily SMA200: 111.01
Levels:
Previous Daily High: 111.07
Previous Daily Low: 110.16
Previous Weekly High: 111.41
Previous Weekly Low: 110
Previous Monthly High: 114.25
Previous Monthly Low: 112.3
Previous Daily Fibonacci 38.2%: 110.5
Previous Daily Fibonacci 61.8%: 110.72
Previous Daily Pivot Point S1: 109.89
Previous Daily Pivot Point S2: 109.56
Previous Daily Pivot Point S3: 108.97
Previous Daily Pivot Point R1: 110.8
Previous Daily Pivot Point R2: 111.39
Previous Daily Pivot Point R3: 111.72