HomeContributorsTechnical AnalysisUSDJPY – Bears Tested Daily Cloud Base, 2017 Low In Focus

USDJPY – Bears Tested Daily Cloud Base, 2017 Low In Focus

Strong bearish acceleration from 113.76 (21 Feb lower top) extended to 111.90 today and hit the base of rising daily cloud.

Strong bearish setup of daily studies pressures the pair for final push towards key short-term supports at 111.60 (06/09 Feb base/2017 lows) and 111.36 (weekly cloud top) in extension.

Near –term price action may show hesitation before firm break below daily cloud base (reinforced by rising 100SMA), with recovery attempts expected to remain below falling hourly cloud (spanned between 112.86 and 113.08).

Res: 112.59, 112.86, 113.08, 113.42
Sup: 111.90, 111.60, 111.36, 111.00

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