USD/JPY Technical Analysis: Bulls await a convincing breakthrough ascending triangle resistance

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   •  The pair has been climbing steadily along a short-term ascending trend-line over the past one week or so but repeatedly failed near the key 110.00 psychological mark.

   •  The combination now seems to constitute towards the formation of an ascending triangle on the 1 -hourly chart, typically a continuation pattern that indicates accumulation.

   •  Technical indicators on hourly charts haven't been able to gain any meaningful traction and are just holding in neutral territory on the daily chart, clearly suggesting indecision.

   •  Despite the neutral technical set-up, the bullish formation support prospects for some near-term gains though will be confirmed only after a sustained breakthrough the mentioned barrier.

USD/JPY 1-hourly chart


	USD/JPY Technical Analysis: Bulls await a convincing breakthrough ascending triangle resistance

USD/JPY

Overview:
    Today Last Price: 109.78
    Today Daily change %: 0.16%
    Today Daily Open: 109.61
Trends:
    Daily SMA20: 109.02
    Daily SMA50: 111.21
    Daily SMA100: 112
    Daily SMA200: 111.24
Levels:
    Previous Daily High: 109.8
    Previous Daily Low: 109.42
    Previous Weekly High: 109.9
    Previous Weekly Low: 107.99
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Daily Fibonacci 38.2%: 109.57
    Daily Fibonacci 61.8%: 109.66
    Daily Pivot Point S1: 109.42
    Daily Pivot Point S2: 109.23
    Daily Pivot Point S3: 109.04
    Daily Pivot Point R1: 109.8
    Daily Pivot Point R2: 109.99
    Daily Pivot Point R3: 110.18

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