- 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.
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
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