USD/JPY Faces Hurdle
USD/JPY is consolidating and facing hurdles near the 140.45 level.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY is trading in a positive zone above the 139.65 and 139.15 levels.
· There was a break above a bearish trend line with resistance near 139.65 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started a fresh increase from the 139.00 zone. It gained bullish momentum and was able to clear the 139.50 resistance.
There was also a break above a bearish trend line with resistance near 139.65 and the 50-hour simple moving average. However, the bears are active near the 140.25 resistance zone. A high was formed near 140.30 before the pair corrected lower.
The pair is now trading near the 23.6% Fib retracement level of the upward move from the 139.01 swing low to the 140.30 high.
The first major support on the USD/JPY chart is near the 50-hour simple moving average at 139.65. It is close to the 50% Fib retracement level of the upward move from the 139.01 swing low to the 140.30 high. The next major support is near the 139.15 level, below which the pair could decline steadily. In the stated case, the pair might dive toward the 138.8 support.
On the upside, the pair is facing resistance near the 140.25 level. The first major resistance is near the 140.45 level. If there is a close above the 140.45 level and RSI moves above 65, the pair could rise toward 141.20. The next major resistance is near 141.50, above which the pair could test 142.00.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY is trading in a positive zone above the 139.65 and 139.15 levels.
· There was a break above a bearish trend line with resistance near 139.65 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started a fresh increase from the 139.00 zone. It gained bullish momentum and was able to clear the 139.50 resistance.
There was also a break above a bearish trend line with resistance near 139.65 and the 50-hour simple moving average. However, the bears are active near the 140.25 resistance zone. A high was formed near 140.30 before the pair corrected lower.
The pair is now trading near the 23.6% Fib retracement level of the upward move from the 139.01 swing low to the 140.30 high.
The first major support on the USD/JPY chart is near the 50-hour simple moving average at 139.65. It is close to the 50% Fib retracement level of the upward move from the 139.01 swing low to the 140.30 high. The next major support is near the 139.15 level, below which the pair could decline steadily. In the stated case, the pair might dive toward the 138.8 support.
On the upside, the pair is facing resistance near the 140.25 level. The first major resistance is near the 140.45 level. If there is a close above the 140.45 level and RSI moves above 65, the pair could rise toward 141.20. The next major resistance is near 141.50, above which the pair could test 142.00.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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