Weak demand for the safe-haven Japanese yen keeps USD/JPY trading near two-months highs. The level to beat for bulls is the 108.56 resistance. USD/JPY daily chart The USD/JPY exchange rate is trading in a bear trend below the 200-day simple moving average (DSMA). However, the spot has been bouncing sharply from the October lows and is now trading close to two-months highs. The better market mood is decreasing the demand for the safe-haven Yen. USD/JPY four-hour chart USD/JPY is trading above the main SMAs on the four-hour chart, suggesting bullish momentum in the medium term. The market is approaching the 108.56 resistance. A daily close above the resistance could open the doors to the 109.12 price level, according to the Technical Confluences Indicator. USD/JPY 30-minute chart The USD/JPY currency pair is trading above its main SMAs, suggesting bullish momentum in the near term. Immediate supports are seen at the 108.16 and 107.70 levels, 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 Reuters poll: Chances of disorderly UK exit from EU fell to 30% from 35% FX Street 4 years Weak demand for the safe-haven Japanese yen keeps USD/JPY trading near two-months highs. The level to beat for bulls is the 108.56 resistance. USD/JPY daily chart The USD/JPY exchange rate is trading in a bear trend below the 200-day simple moving average (DSMA). However, the spot has been bouncing sharply from the October lows and is now trading close to two-months highs. The better market mood is decreasing the demand for the safe-haven Yen. USD/JPY four-hour chart USD/JPY is trading above the main SMAs on the four-hour chart, suggesting… 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.
