- USD/JPY dropped to daily fresh daily lows however still holding onto weekly gains.
- The level to beat for buyers is the 109.29 resistance.
USD/JPY daily chart
USD/JPY is trading above the 109.00 handle and the 200-day simple moving average (SMA) on the daily chart. In the last two months the market has been gaining considerable momentum.
USD/JPY four-hour chart
USD/JPY 30-minute chart
USD/JPY is trading above the upward sloping 100 and 200 SMAs, suggesting a bullish momentum in the near term. Support is seen at the 109.00 figure followed by the 108.55 and 108.27 levels, according to the Technical Confluences Indicator.
Additional key levels