Home USD/JPY technical analysis: Greenback rolling into the Asian session below 108.50 against Yen
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USD/JPY technical analysis: Greenback rolling into the Asian session below 108.50 against Yen

FX Street
Updated:
  • USD/JPY is off the monthly high below the 108.50 resistance.
  • The current retracement could extend to 108.41 and the 108.03 support levels.
 

USD/JPY daily chart

 
 
USD/JPY is trading off the monthly highs as the market is above the 50-day simple moving average (DSMA).    
 

USD/JPY 4-hour chart

 
 
USD/JPY is trading above its main SMAs, suggesting bullish momentum in the medium term. However, bulls need a breakout above 108.50 to reach 109.40 resistance to the upside, according to the Technical Confluences Indicator.
 
 

USD/JPY 30-minute chart

 
USD/JPY is trending below the 50 and 100 SMAs, suggesting a potential correction down in the near term. The market could declines towards 108.41 and the 108.03 support levels, according to the Technical Confluences Indicator.  
 

Additional key levels

 

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