- USD/JPY is creating a base near the 108.00 figure.
- Buyers need to break beyond 108.50 to generate bullish momentum.
USD/JPY daily chart
USD/JPY is trading in a bear leg below its main daily simple moving averages (DSMAs).
USD/JPY 4-hour chart
USD/JPY is consolidating near the 108.00 handle.
USD/JPY 30-minute chart
Bulls are attempting to create a rebound from the 108.00 figure as the market is trading above its main SMAs. A breakout beyond 108.50 should lead to 108.80 and 109.20 to the upside. Support is seen at 108.00, 107.80 and 107.30.
Additional key levels
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