USD/JPY technical analysis: Greenback having a small bounce at the daily low near 108.05

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  • USD/JPY is finding some support above the 108.05 level.
  • Targets to the upside can be seen at 108.56 and 108.85.

USD/JPY daily chart
 

USD/JPY is trying to stabilize above 108.00 as the market is trading below the main daily simple moving average (DSMA).

USD/JPY 4-hour chart

USD/JPY is consolidating above the 108.05 level near the 100 and 200 SMAs. Bulls should retake 108.26 to have a chance to reach 108.56 and 108.85 to the upside, according to the Technical Confluences Indicator. 

USD/JPY 30-minute chart

USD/JPY is challenging the 108.05 support and the 100/200 SMAs. If bears break below 108.08 the market could decline further towards 107.83 and 107.49 according to the Technical Confluences Indicator.


 
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