USD/JPY Current price: 108.26
View Live Chart for the USD/JPY
Bears not ready to give up. The USD/JPY trades uneventfully above the 108.00 level, and near a daily high set at 108.40, unable to attract investors at the time being. The Nikkei 225 recovered this Tuesday, but the JPY held into recent gains, as bears are not yet ready to give up. Nevertheless, some short term buying interest has been defending the downside around 107.90/108.00. From a technical point of view, the 1 hour chart shows that the price remains below its 100 and 200 SMAs, with the shortest currently around 108.60, the immediate resistance. In the same chart, the technical indicators are for the most flat within positive territory, in line with the lack of volume around the pair. In the 4 hours chart the technical indicators head lower within negative territory after failing to advance beyond their mid-lines, maintaining the risk towards the downside.
Support levels: 107.95 107.65 107.30
Resistance levels: 108.60 108.90 109.35
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