Home USD/JPY technical analysis: The Greenback can rise to the 109.00 handle against Yen
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USD/JPY technical analysis: The Greenback can rise to the 109.00 handle against Yen

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Published date:
  • USD/JPY holds onto weekly gains despite little progress this Friday.
  • The levels to beat for bulls is the 108.24 resistance level.
 
 

USD/JPY daily chart

 
 
USD/JPY is trading in a bear trend below its 200-day simple moving averages (SMA). However, in August and September the currency pair has been rebounding up sharply now challenging the 100 SMA.
 
 

USD/JPY 4-hour chart

 
 
USD/JPY is trading above its main SMAs, suggesting a bullish bias in the medium term. The bull trend is intact and bulls are looking to trade beyond the 108.24 resistance level in order to set their eyes on the 109.00 resistance level, according to the Technical Confluences Indicator.  
 
   
 
 
 

USD/JPY 30-minute chart

 
 
Dollar/Yen is trading above the main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at 107.79 level followed by the 107.50 and 107.23 price levels, according to the Technical Confluences Indicator.  
 

Additional key levels

 

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