USD/JPY starts the week in a tight range near the 107.00 handle.
The level to beat for bulls is the 107.00 figure followed by the 107.40 resistance.
USD/JPY daily chart
USD/JPY is trading in a bear trend below the main simple moving averages (SMAs). The market is challenging the 50 SMA this Monday in the New York session.
USD/JPY four-hour chart
USD/JPY is under pressure below the 107.00 figure and main 200 SMA. A break below the 106.80 support can expose the 106.40 level to the downside, according to the Technical Confluences Indicator.
USD/JPY 30-minute chart
The USD/JPY currency pair is trading above the 50/100 SMAs, suggesting a consolidation up in the near term. Immediate resistances are seen at the 107.00 and 107.40 price levels. Further up lie the 107.70 level, according to the Technical Confluences Indicator.
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