USD/JPY technical analysis: Greenback rolling into the Asian session below 108.50 against Yen

USD/JPY is off the monthly high below the 108.50 resistance.
The current retracement could extend to 108.41 and the 108.03 support levels.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading off the monthly highs as the market is above the 50-day simple moving average (DSMA).

USD/JPY 4-hour chart

USD/JPY is trading above its main SMAs, suggesting bullish momentum in the medium term. However, bulls need a breakout above 108.50 to reach 109.40 resistance to the upside, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is trending below the 50 and 100 SMAs, suggesting a potential correction down in the near term. The market could declines towards 108.41 and the 108.03 support levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.6
Today Daily Change	-0.18
Today Daily Change %	-0.17
Today daily open	108.78

Trends
Daily SMA20	108.2
Daily SMA50	108.4
Daily SMA100	109.73
Daily SMA200	110.53

Levels
Previous Daily High	108.9
Previous Daily Low	108.42
Previous Weekly High	108.83
Previous Weekly Low	107.7
Previous Monthly High	108.8
Previous Monthly Low	106.78
Daily Fibonacci 38.2%	108.72
Daily Fibonacci 61.8%	108.61
Daily Pivot Point S1	108.5
Daily Pivot Point S2	108.22
Daily Pivot Point S3	108.02
Daily Pivot Point R1	108.98
Daily Pivot Point R2	109.19
Daily Pivot Point R3	109.47

Author

Flavio Tosti

Independent Analyst

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