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  • The demand for Yen as a safe-haven currency has been weak in the last four days.  
  • The levels to beat for bulls are at the 106.30 and 106.55 resistances.
 

USD/JPY daily chart

 
 
USD/JPY is bouncing from multi-month lows while under the main daily simple moving averages (DSMAs). The market is trading above the 106.00 handle as the bear trend is on hold.  Trade war news and US bond yields are the primary drivers of the USD/JPY currency pair.
 

USD/JPY 4-hour chart

 
USD/JPY is grinding higher above the 50 SMA. Bulls are looking to trade above 106.77 to reach 107.07 according to the Technical Confluences Indicator.
 
 

USD/JPY 30-minute chart

 
Dollar/Yen is trading above its main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at 106.55 and 106.30 according to the Technical Confluences Indicator.  
 
 

Additional key levels