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USD/JPY Price Analysis: Greenback going nowhere vs. Japanese yen, trades sub-108.00 figure

  • USD/JPY is ending the week pretty much where it started. 
  • The level to beat for bears is the 107.00 support. 

USD/JPY daily chart

USD/JPY keeps trading in a tight range below the 108.00 figure and the main SMAs on the daily chart as market participants are looking for a clear direction.
  

USD/JPY four-hour chart

USD/JPY is trading below the main SMAs on the four-hour chart suggesting a negative bias in the medium term. However, the spot remains confined in an extremely tight range. Sellers would need a clear daily close below the 107.00 figure, near the April low. On the flip side, resistance is seen near the 108.00 figure and a close above this level can lead to further gains. 
 

Additional key levels

USD/JPY

Overview
Today last price 107.46
Today Daily Change -0.14
Today Daily Change % -0.13
Today daily open 107.6
 
Trends
Daily SMA20 107.97
Daily SMA50 108.38
Daily SMA100 108.85
Daily SMA200 108.33
 
Levels
Previous Daily High 108.04
Previous Daily Low 107.35
Previous Weekly High 108.52
Previous Weekly Low 106.93
Previous Monthly High 111.72
Previous Monthly Low 101.18
Daily Fibonacci 38.2% 107.61
Daily Fibonacci 61.8% 107.78
Daily Pivot Point S1 107.28
Daily Pivot Point S2 106.97
Daily Pivot Point S3 106.59
Daily Pivot Point R1 107.98
Daily Pivot Point R2 108.36
Daily Pivot Point R3 108.68

 

 

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