10:00, 20 December

USDJPY Daily Analysis

The USDJPY pair traded with a bullish tone in the prior session and finished at 112.89, after hitting a high at 113.08. As of now, the daily RSI and stochastic indicators are showing loss of upward potential, hinting at likely bearishness in the coming session. However, a possible centerline crossover by the 8H MACD to enter its positive region, along with the 4H stochastic and RSI indicators placed above their 50lines, suggests at positivity in the pair over intraday basis. Important resistance is aligned at the 113.33/35 level, followed by the daily upper Bollinger band (currently placed at 113.84/85) and 114.34/35 levels. A surge above the latter might lead to further positivity in the pair. Conversely, key support is placed at the 2H 50SMA (currently trading at 112.60), followed by the 4H lower Bollinger Band (currently placed at 112.17/15) and the 100day SMA (currently trading at 111.75). A breach below the latter might trigger negative momentum in the pair.