HomeContributorsTechnical AnalysisUSDJPY – Bullish Bias Above Daily Tenkan-Sen

USDJPY – Bullish Bias Above Daily Tenkan-Sen

The pair cracked psychological 114.00 barrier today, on extension above initial target at 113.91(Fibo 61.8% of 115.36/111.57 downleg). Fresh bulls were limited by falling 30 SMA for now, but the downside stays protected by 20SMA at 113.35 that marks initial support. Expect near-term action to remain biased higher while the price remains above upside-turning daily Tenkan-sen (currently at 112.85). Daily close above 113.91 is needed to signal further recovery and open way towards next pivotal barrier at 114.54 (daily Kijun-sen).

Res: 113.91, 114.13, 114.54, 114.93
Sup: 113.35, 113.20, 112.85, 112.50

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