USD/JPY Technical Analysis: Remains confined in a narrow trading range below 110.00 handle

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   •  The pair has been oscillating within 60-70 pips broader trading range since the beginning of this week and has managed to hold/defend confluence support.

   •  The mentioned support, comprising of 200-hour EMA and a five-day-old ascending trend-line, might now act as a key pivotal point for intraday/short-term traders. 

   •  Given repeated rejections near the 110.00 handle, neutral technical indicators on hourly/daily charts point to indecision over the pair’s near-term trajectory. 

   •  Hence, it would be prudent to wait for a convincing breakthrough the recent trading range before traders start positioning for the next leg of a directional move.

USD/JPY 1-hourly chart


	USD/JPY Technical Analysis: Remains confined in a narrow trading range below 110.00 handle

USD/JPY

Overview:
    Today Last Price: 109.78
    Today Daily change %: -0.06%
    Today Daily Open: 109.85
Trends:
    Daily SMA20: 109.35
    Daily SMA50: 110.49
    Daily SMA100: 111.77
    Daily SMA200: 111.27
Levels:
    Previous Daily High: 110.09
    Previous Daily Low: 109.61
    Previous Weekly High: 109.74
    Previous Weekly Low: 108.5
    Previous Monthly High: 110
    Previous Monthly Low: 104.75
    Daily Fibonacci 38.2%: 109.79
    Daily Fibonacci 61.8%: 109.9
    Daily Pivot Point S1: 109.61
    Daily Pivot Point S2: 109.37
    Daily Pivot Point S3: 109.13
    Daily Pivot Point R1: 110.09
    Daily Pivot Point R2: 110.33
    Daily Pivot Point R3: 110.58

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