USD/JPY trying to defend 111.00 handle

27 August, 2018

The pair's intraday recovery move has been alongside an ascending trend-channel formation on the shorter timeframe, with bulls just managing to hold on to the channel support.

Mixed technical indicators have failed to support any firm directional bias and traders now await a convincing break through the channel before positioning for any meaningful momentum. 

A convincing break below the 111.00 handle would invalidate prospects for any intraday recovery and turn the pair vulnerable to head back towards challenging the key 100-day SMA support.

Spot Rate: 111.10

  • Daily Low: 110.94
  • Daily High: 111.35
  • Trend: Neutral


  • R1: 111.35 (200-period SMA)
  • R2: 111.68 (R2 daily pivot-point)
  • R3: 112.00 (round figure mark)


  • S1: 110.94 (current day swing low)
  • S2: 110.65 (S3 daily pivot-point)
  • S3: 110.11 (100-day SMA)

Source   Presented by HYCM
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