USD/JPY technical analysis: Brexit chaos hurting market mood, Greenback trading sub-108.60 level against Yen

USD/JPY is consolidating the October bull run.
The level to beat for sellers is the 108.16 support.
Brexit uncertainties is hurting the market sentiment and attracting investors to buy the Yen.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bear trend below its 200-day simple moving average (DSMA). The market is pulling back down following the October bull run. Brexit uncertainties is eroding the market mood and attracting traders to buy the Japanese Yen.

USD/JPY four-hour chart

USD/JPY is trading below the 108.56 resistance and the 50 SMA on the four-hour chart, suggesting a pullback down in the medium term. As the market is losing steam, its seems likely that the spot has room to weaken towards the 108.16 support, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is trading below its major SMAs on the 30-minute chart, suggesting a bearish bias in the near term. Resistance is seen at the 108.56 and 108.90 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.48
Today Daily Change	-0.13
Today Daily Change %	-0.12
Today daily open	108.61

Trends
Daily SMA20	107.86
Daily SMA50	107.27
Daily SMA100	107.56
Daily SMA200	109.08

Levels
Previous Daily High	108.66
Previous Daily Low	108.29
Previous Weekly High	108.94
Previous Weekly Low	108.03
Previous Monthly High	108.48
Previous Monthly Low	105.74
Daily Fibonacci 38.2%	108.52
Daily Fibonacci 61.8%	108.43
Daily Pivot Point S1	108.38
Daily Pivot Point S2	108.15
Daily Pivot Point S3	108.01
Daily Pivot Point R1	108.76
Daily Pivot Point R2	108.9
Daily Pivot Point R3	109.13

Author

Flavio Tosti

Independent Analyst

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