Dollar/yen has surged vertically in a mix of dollar strength, concerns about the Japanese economy, triggering of stops, and other factors. The currency pair is now some 150 pips higher. What levels should we be watching? The Technical Confluences Indicator is showing that USD/JPY is clinging to the 111.40 level, which is a cluster of lines including the Simple Moving Average 5-15m, the SMA 10-15m, the Pivot Point one-month Resistance 2, and the Bollinger Band 4h-Upper. Resistance awaits at 111.96, which is the confluence of the Fibonacci 161.8% one-month and the PP one-day R1. The next upside target is 112.42, which is where last year’s high and the PP one-month R3 converge. Looking down, support awaits at 110.95, which is a juncture of lines including the SMA 100-15m and the Fibonacci 38.2% one-day. The downside target is 110.18, a dense cluster of lines that consists of the previous weekly high, the BB 4h-Middle, the PP one-week R1, the SMA 100-1h, and the SMA 5-one-day. Here is how it looks on the tool: Confluence Detector The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas. Learn more about Technical Confluence FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY now shifted the focus to 112.00 – UOB FX Street 2 years Dollar/yen has surged vertically in a mix of dollar strength, concerns about the Japanese economy, triggering of stops, and other factors. The currency pair is now some 150 pips higher. What levels should we be watching? The Technical Confluences Indicator is showing that USD/JPY is clinging to the 111.40 level, which is a cluster of lines including the Simple Moving Average 5-15m, the SMA 10-15m, the Pivot Point one-month Resistance 2, and the Bollinger Band 4h-Upper. Resistance awaits at 111.96, which is the confluence of the Fibonacci 161.8% one-month and the PP one-day R1. The next upside target is 112.42, which is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.