USDJPY BACK ABOVE 200 WEEK MA

The USDJPY pair has moved back above the weekly time frame 200 period, moving average, at 111.29, after declining to the 110.78 level.

The U.S dollar index has started to recover during the European session, as the USDJPY now trades close the daily pivot point, at 111.49, ahead of the release of United States durable goods orders.

Intraday price resistance is found at 111.48, whilst the 111.68 to 111.70 region remains key for the USDJPY pair, with the weekly pivot and the H1 time frame 100 period moving average both converging here.

Above the 111.70 level, daily price closes above the 112.08 and 1112.30 levels should be watched closely for further upside.

To the downside, key technical USDJPY support is located at the 200 week moving average, at 111.29, and the key 111 to 110.79 region.