Thu, Dec 09, 2021 @ 07:54 GMT
HomeContributorsTechnical AnalysisUSDJPY Remains Under Pressure And Eyes Next Pivot At 112.85, Offers Lowered...

USDJPY Remains Under Pressure And Eyes Next Pivot At 112.85, Offers Lowered To 113.80

Long bearish candle that was left on yesterday’s extension of pullback after strong upside rejection at 114.94, heavily weighs on near-term action.

Yesterday’s close below Tenkan-sen line at 113.26 was a bearish signal, with the pair eyeing next pivot at 112.85 (Fibo 61.8% of 111.57/114.94 upleg.

Firm break here is needed to confirm reversal and trigger further weakness from lower top at 114.94.

Corrective upticks should be ideally capped at 113.80 zone (falling 30SMA/Fibo 38.2% of 114.94/113.07 downleg).

Only sustained bounce above 114.00 barrier would sideline downside risk.

Res: 113.26, 113.59, 113.80, 114.22
Sup: 113.07, 112.85, 112.37, 112.00

Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Featured Analysis

Learn Forex Trading