USD/JPY technical analysis: Back into the middle of the range near 108.45

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.

Flavio Tosti Independent Analyst

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 4-hour chart

USD/JPY is consolidating in the 108.16-108.61 range capped by the 100 SMA.

USD/JPY 30-minute chart

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%).

Additional key levels

USD/JPY

Overview
Today last price	108.48
Today Daily Change	-0.06
Today Daily Change %	-0.06
Today daily open	108.54

Trends
Daily SMA20	108.92
Daily SMA50	110.19
Daily SMA100	110.49
Daily SMA200	111.23

Levels
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

Author

Flavio Tosti

Independent Analyst

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