- USD/JPY remains trapped in its range between 108.16 support and 108.61 resistance
- The level to beat for bulls is 108.70 according to the Technical Confluences Indicator.
USD/JPY daily chart
USD/JPY is trading in a bear trend below its main daily simple moving averages (DSMAs). The 50 DSMA crossed below the 100 DSMA which is seen as bearish. USD/JPY is entering its eleventh day of consolidation above 108.00.
USD/JPY is consolidating in the 108.16-108.61 range capped by the 100 SMA.
The market is trying to find some support near 108.45, which is a key level according to the Technical Confluences Indicator. However, as it stands, USD/JPY remains constrained in its tight range. If bulls overcome 108.70 resistance (Fibonacci cluster) they could reach 108.84 (near the previous week high and the weekly pivot point resistance 1). The next resistance lies near 109.05 (Monthly Fibonacci of 23.6%).
|Today last price||108.48|
|Today Daily Change||-0.06|
|Today Daily Change %||-0.06|
|Today daily open||108.54|
|Previous Daily High||108.73|
|Previous Daily Low||108.46|
|Previous Weekly High||108.8|
|Previous Weekly Low||108.16|
|Previous Monthly High||111.71|
|Previous Monthly Low||108.23|
|Daily Fibonacci 38.2%||108.63|
|Daily Fibonacci 61.8%||108.57|
|Daily Pivot Point S1||108.43|
|Daily Pivot Point S2||108.32|
|Daily Pivot Point S3||108.17|
|Daily Pivot Point R1||108.69|
|Daily Pivot Point R2||108.84|
|Daily Pivot Point R3||108.96|
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