USD/JPY technical analysis: Greenback erases most of Tuesday’gains against Yen, trades above 105.70 level


  • USD/JPY is erasing most of the gains established on Tuesday. 
  • The levels to beat for bulls are at the 105.90 and 106.12 resistances.
 

USD/JPY daily chart

 
 
USD/JPY is trading near multi-month lows while below the main daily simple moving averages (DSMAs). Trade war news are driving USD/JPY price action. 
 

USD/JPY 4-hour chart

 
USD/JPY is trading below its main SMAs, suggesting bearish momentum. The market is erasing parts of the gains made on Tuesday. However, the pullback down seems overdone and the bears need to break below 105.68 to drive the market down towards 105.30, according to the Technical Confluences Indicator. 
 
 

USD/JPY 30-minute chart

 
USD/JPY dropped to the 105.70 level near the 200 SMA. Bulls have a lot of work if they want to undo the bearish damage. They have several layers of resistances to break at 105.90, 106.12, 106.30, 106.55 and 106.77 levels, according to the Technical Confluences Indicator. 
 
 
 
 

Additional key levels

USD/JPY

Overview
Today last price 105.81
Today Daily Change -0.93
Today Daily Change % -0.87
Today daily open 106.74
 
Trends
Daily SMA20 107.36
Daily SMA50 107.83
Daily SMA100 109.26
Daily SMA200 110.2
Levels
Previous Daily High 106.98
Previous Daily Low 105.07
Previous Weekly High 107.09
Previous Weekly Low 105.26
Previous Monthly High 109.01
Previous Monthly Low 107.21
Daily Fibonacci 38.2% 106.25
Daily Fibonacci 61.8% 105.8
Daily Pivot Point S1 105.54
Daily Pivot Point S2 104.35
Daily Pivot Point S3 103.63
Daily Pivot Point R1 107.46
Daily Pivot Point R2 108.17
Daily Pivot Point R3 109.37

 

 

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