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USD/JPY technical analysis: Greenback retreating against Yen, trades near 109.00 handle and 200 DMA

  • USD/JPY is starting the week on the back foot. 
  • The market is challenging the 109.00 handle in the New York session. 
 

USD/JPY daily chart

 
USD/JPY is trading near the 109.00 handle and the 200-day simple moving average (SMA) on the daily chart. In the last two months the spot has been rising consistently suggesting potential further strength.
 
 

USD/JPY four-hour chart

 
The spot is trading above the main SMAs on the four-hour chart, suggesting a bullish bias in the medium term. The market is battling with the 109.00 handle. Resistances on the way up are seen at the 109.32/49 price zone, 109.77 level, followed by the 110.34 price level, according to the Technical Confluences Indicator. 
 
 

USD/JPY 30-minute chart

 
USD/JPY is trading below the main SMAs, suggesting a bearish momentum in the near term. Support is seen at the 108.75, 108.47 and 107.93 levels, according to the Technical Confluences Indicator. 
 

Additional key levels

 

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