USD/JPY is trading just above flat on Thursday. Between 105 and 106 there are multiple resistance zones. USD/JPY daily chart It’s fair to say that USD/JPY has not been the most interesting currency pair over the last couple of months. The pair sprung into life when the Yen strength kicked in on 14th September. The previous wave low was broken and the price hit a low of 104.00 but then the pair caught a strong bid with some analysts suggesting BoJ intervention (unconfirmed). Since hitting the lows the price has retraced back to the mean value area of the previous consolidation (distribution). There are two key resistance levels to look out for now. First is the orange line at the current price point and the next one is right in the middle of the consolidation at 106.09. The latter is the stronger zone and it will be interesting to see if the bulls have enough power to get the price there. The indicators are still bearish. The MACD histogram is still red and the signal lines remain under the mid-zone. The Relative Strength Index has moved away from the oversold area but is still pretty low under the 50 area. This market is still making lower highs and lower lows so the pair will need some strength to break this trend from here. If the red level on the downside does get broken then it is back to the normal for the bears. For now, traders must keep a close eye on these resistance zones to see if there is a rejection. Additional levels 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 EUR/USD turns positive on the day above 1.1670 amid modest USD weakness FX Street 2 years USD/JPY is trading just above flat on Thursday. Between 105 and 106 there are multiple resistance zones. USD/JPY daily chart It's fair to say that USD/JPY has not been the most interesting currency pair over the last couple of months. The pair sprung into life when the Yen strength kicked in on 14th September. The previous wave low was broken and the price hit a low of 104.00 but then the pair caught a strong bid with some analysts suggesting BoJ intervention (unconfirmed). Since hitting the lows the price has retraced back to the mean value area of the previous… 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.