USD/JPY is fading the Fed-inspired spike to 108.86 resistance. Support is seen at 108.61 and 104.41 on the way down. USD/JPY daily chart USD/JPY is trading in a range above the 108.50 level and the 50 SMA. The market only had a minor reaction to the 25 bps cut by the Federal Reserve. USD/JPY 4-hour chart USD/JPY is trading above its main SMAs, suggesting a bullish bias in the medium term. Bulls need to generate a breakout above 108.86 to reach 109.40 resistance on the way up, according to the Technical Confluences Indicator. USD/JPY 30-minute chart The market is currently fading the Fed-inspired spike to 108.86. Support on the way down is seen at 108.61 and 108.41, according to the Technical Confluences Indicator. Additional key 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 NZD/USD clings to 6-week low as aftershocks of Fed’s action keep pleasing bears FX Street 4 years USD/JPY is fading the Fed-inspired spike to 108.86 resistance. Support is seen at 108.61 and 104.41 on the way down. USD/JPY daily chart USD/JPY is trading in a range above the 108.50 level and the 50 SMA. The market only had a minor reaction to the 25 bps cut by the Federal Reserve. USD/JPY 4-hour chart USD/JPY is trading above its main SMAs, suggesting a bullish bias in the medium term. Bulls need to generate a breakout above 108.86 to reach 109.40 resistance on the way up, according to the Technical Confluences… 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.
