News

USD/JPY technical analysis: Greenback is under pressure below the 107.00 handle

  • The ISM Non-Manufacturing PMI in September disappointed the market dropping to 52.6 in vs. 55 forecast.
  • The level to beat for bears is the 106.50 support level.
 

USD/JPY daily chart

 
 
USD/JPY is trading in a bear trend below the main simple moving averages (SMAs). The Greenback is on the back foot after worse-than-expected ISM PMI data from the United States this week. 
 
 

USD/JPY four-hour chart

 
 
USD/JPY is under pressure below the 107.00 figure and the 200 SMA. A break below the 106.50 support can expose the 106.00 handle to the downside, according to the Technical Confluences Indicator
 

USD/JPY 30-minute chart

 
 
The USD/JPY currency pair is under pressure below the main SMAs, suggesting a bearish bias in the near term. Immediate resistances are seen at the 107.00 and 107.40 price levels, 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.