USD/JPY Technical Analysis: Bull-to-bear trend change confirmed

The USD/JPY pair closed well below the crucial 100-day moving average (MA) support, confirming a bullish-to-bearish trend change.
The long-term average had caught lows on a closing basis in May, August, September, and October. The average also worked as strong support earlier this month.
The bears, therefore, could be feeling emboldened, having breached the 100-day MA. Simply put, the break below the key average marks an end of the rally from the March low of 104.63.
The pair could soon explore levels below the psychological support of 110.00. The bearish outlook would be invalidated if and when the 100-day MA hurdle is scaled.

Omkar Godbole FXStreet Contributor

Daily Chart

Trend: Bearish

USD/JPY

Overview:
    Today Last Price: 111.25
    Today Daily change: 3.0 pips
    Today Daily change %: 0.0270%
    Today Daily Open: 111.22
Trends:
    Previous Daily SMA20: 113.09
    Previous Daily SMA50: 112.97
    Previous Daily SMA100: 112.4
    Previous Daily SMA200: 110.88
Levels:
    Previous Daily High: 112.67
    Previous Daily Low: 110.81
    Previous Weekly High: 113.71
    Previous Weekly Low: 112.24
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 111.52
    Previous Daily Fibonacci 61.8%: 111.96
    Previous Daily Pivot Point S1: 110.46
    Previous Daily Pivot Point S2: 109.71
    Previous Daily Pivot Point S3: 108.6
    Previous Daily Pivot Point R1: 112.32
    Previous Daily Pivot Point R2: 113.43
    Previous Daily Pivot Point R3: 114.18

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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