Technical Chart pick of the day: 1H USDJPY – Bearish
· On a technical perspective, the trend is turning bearish, with prices below the 20 and 40.
· Prices failed to break above the 20 EMA and retraced. This indicates that selling pressure is present.
· Based on the pivot point analysis, prices are below the pivot level. This signifies bearishness.
Resistance: R1: 110.169, R2: 110.365, R3: 110.716
Support: S1: 109.818, S2: 109.663, S3: 109.312