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8 Oct 2019
USD/JPY technical analysis: Greenback off daily lows, trading above the 107.00 handle
- USD/JPY is off the daily lows on trade talks optimism.
- The level to beat for bulls is the 107.20/40 resistance zone.
USD/JPY daily chart
The USD/JPY currency pair is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The market is trying to find some support near the 50 SMA at 106.92.
USD/JPY four-hour chart
USD/JPY is trading below its main SMAs, suggesting a bearish bias in the near term. A break below the 106.80 support can expose the 106.20 price level, according to the Technical Confluences Indicator.
USD/JPY 30-minute chart
The USD/JPY currency pair is trading above the 100 and 200 SMAs, suggesting bullish momentum in the near term. Immediate supports are seen at the 107.00 and 106.80 price levels, according to the Technical Confluences Indicator.
Additional key levels