USD/JPY Technical Analysis: Intraday positive move stalls near 100-hour EMA/38.2% Fibo. confluence region

   •  The pair built on its steady intraday climb from the 109.15 support area and refreshed session tops in the last hour, albeit the positive momentum seems to have failed near 100-hour EMA.

   •  A slight improvement in risk sentiment, as depicted by a goodish rebound in the European equity markets, was seen denting the JPY's safe-haven status and providing a minor lift to the pair.

   •  The mentioned hurdle coincides with 38.2% Fibonacci retracement level of the latest rejection slide from the key 110.00 psychological mark to over one-week lows, touched earlier today.

   •  Meanwhile, technical indicators on the 1-hourly chart have just started moving into the positive territory but have failed to gain any traction on 4-hourly/daily charts and warrant caution for bulls.
 
   •  Hence, it would be prudent to wait for a sustained move beyond the said confluence resistance before traders start positioning for any further intraday up-move back towards the 110.00 handle.

USD/JPY 1-hourly chart

Important technical levels to watch

Overview:
    Today Last Price: 109.41
    Today Daily change %: 0.03%
    Today Daily Open: 109.38
Trends:
    Daily SMA20: 108.97
    Daily SMA50: 111.08
    Daily SMA100: 111.96
    Daily SMA200: 111.26
Levels:
    Previous Daily High: 109.59
    Previous Daily Low: 109.16
    Previous Weekly High: 110
    Previous Weekly Low: 109.14
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Daily Fibonacci 38.2%: 109.32
    Daily Fibonacci 61.8%: 109.43
    Daily Pivot Point S1: 109.16
    Daily Pivot Point S2: 108.95
    Daily Pivot Point S3: 108.73
    Daily Pivot Point R1: 109.59
    Daily Pivot Point R2: 109.8
    Daily Pivot Point R3: 110.02