News

USD/JPY technical analysis: Greenback ends the week below the 108.50 level

  • This week USD/JPY consolidated the October bull run. 
  • The level to beat for bears is the 108.16 support. 
 

USD/JPY daily chart

 
 
USD/JPY is trading in a bear trend below its 200-day simple moving average (DSMA). The spot is currently retracing down after the October bull run. 
 

USD/JPY four-hour chart

 
 
USD/JPY is above the main SMAs on the four-hour chart, suggesting a positive momentum in the medium term. The level to beat for buyers is the 108.56 resistance followed by the 108.90 level, according to the Technical Confluences Indicator. 

USD/JPY 30-minute chart

 
 
USD/JPY is trading below its primary SMAs, suggesting a bearish bias in the near term. Next week, the sellers might target the support levels at 108.16 and 107.70, according to the Technical Confluences Indicator
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.