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  • USD/JPY consolidates gains above the 108.00 figure.
  • The level to beat for buyers is the 109.50 resistance.

USD/JPY daily chart

USD/JPY is trading above the 200 SMA on the daily chart as the quote is trying to stabilize above the 107.00 level amidst better market mood. 

USD/JPY four-hour chart

USD/JPY bull trend stays intact as the spot trades above the 108.00 handle and the 50/200 SMAs on the four chart. Bulls are likely looking for a break above the 108.70 resistance which would open the doors to the 109.50 and 111.00 levels on the way up. Support can emerge near 108.00 and 107.00 price levels.  

Additional key levels