USDJPY is now at a higher place above its daily SMA50 and its daily SMA100 and also its daily SMA100, after it could form a higher low at 111.37 by the end of last week, while its continued existence above its daily SMA200 is still underpinning it over longer range.
USDJPY is now trading in its second day of being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading 111.41, after forming this bottom at 111.37 last Friday which enabled it to contain all of last week slide.
USDJPY daily RSI-14 is still referring to higher existence inside its neutral territory reading 57.775.
USDJPY daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its overbought region above 80 at 88.779 leading to the upside its signal line which is still lower inside the neutral area at 69.068, following higher positive crossover inside this area to refer to this convergence to the upside.
Important levels: Daily SMA50 @ 112.27, Daily SMA100 @ 111.64 and Daily SMA200 @ 109.86
Experienced S&R:
S1: 111.37
S2: 110.37
S3: 109.77
R1: 114.54
R2: 114.73
R3: 115.50
Have a good day and nice trading times
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din