USD/JPY Technical Analysis: 110.00 is again capping upside
USD/JPY picked up a bid near 109.75 earlier today, however, the psychological resistance of 110.00 is again proving a tough nut to crack.
4-hour chart
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As seen above, the bears have not been able to capitalize on the repeated failure at 110.00. In fact, the pair has charted a bull flag pattern - a pause that often ends up accelerating the preceding bullish move.
A 4-hour close above 110.00 would confirm a bull flag breakout and open up upside towards 111.60 - target as per the measured move method.
On the downside, a break below 109.56 would weaken the bullish case.
Trend: Bullish above 110.00
USD/JPY
Overview:
Today Last Price: 109.95
Today Daily change: 0.00 pips
Today Daily change %: 0.00%
Today Daily Open: 109.95
Trends:
Daily SMA20: 109.28
Daily SMA50: 110.56
Daily SMA100: 111.79
Daily SMA200: 111.27
Levels:
Previous Daily High: 110.06
Previous Daily Low: 109.56
Previous Weekly High: 109.74
Previous Weekly Low: 108.5
Previous Monthly High: 110
Previous Monthly Low: 104.75
Daily Fibonacci 38.2%: 109.87
Daily Fibonacci 61.8%: 109.75
Daily Pivot Point S1: 109.65
Daily Pivot Point S2: 109.36
Daily Pivot Point S3: 109.16
Daily Pivot Point R1: 110.15
Daily Pivot Point R2: 110.35
Daily Pivot Point R3: 110.65