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USD/JPY technical analysis: Greenback challenges daily highs against Yen, trading above the 106.00 handle

USD/JPY starts the week by erasing most of last Friday’s selloff.
The levels to beat for bulls are at the 106.30 and 106.55 resistances.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is erasing most of Friday’s drop while trading below its main daily simple moving averages (DSMAs). The market is trading back above the 106.00 handle as the bear trend is on hold.

USD/JPY 4-hour chart

USD/JPY bouncing up sharply just above the 50/100 SMAs. Bulls are looking to trade above 106.30 resistance to reach 106.55, 106.77 and 107.07 according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

Dollar/Yen is challenging the 106.30 level and 200 SMA, suggesting bullish momentum in the near term. Immediate support is seen at 106.12, 105.92 and 105.70 according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	106.22
Today Daily Change	0.84
Today Daily Change %	0.80
Today daily open	105.38

Trends
Daily SMA20	106.61
Daily SMA50	107.47
Daily SMA100	108.86
Daily SMA200	109.9

Levels
Previous Daily High	106.74
Previous Daily Low	105.26
Previous Weekly High	106.74
Previous Weekly Low	105.26
Previous Monthly High	109.01
Previous Monthly Low	107.21
Daily Fibonacci 38.2%	105.82
Daily Fibonacci 61.8%	106.17
Daily Pivot Point S1	104.85
Daily Pivot Point S2	104.31
Daily Pivot Point S3	103.36
Daily Pivot Point R1	106.33
Daily Pivot Point R2	107.27
Daily Pivot Point R3	107.81

Author

Flavio Tosti

Independent Analyst

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