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

USD/JPY daily chart

USD/JPY is trading above the 200 DMA (daily simple moving average) on the daily chart as the quote is trying to stabilize above the 107.00 level.

USD/JPY four-hour chart

USD/JPY uptrend stays intact as the quote trades above the 108.00 figure and its 50/200 SMAs on the four chart but below the 100 SMA. Buyers are most probably looking for a breakout above the 108.70 resistance which would introduce scope to the 109.50 and 111.00 levels to the upside. Support can be expected near 108.00 and 107.00 price levels.  

Additional key levels