USD/JPY technical analysis: Greenback firmer above 106.00 as Wall Street gains momentum

The risk-off sentiment is currently on hold as Wall Street indices are at 2-day highs.
The level to beat for bulls are seen at 106.13-25 followed by the 106.48 resistance.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading off multi-month lows while well below its main daily simple moving averages (DSMAs). USD/JPY price action is mainly dictated from trade war news.

USD/JPY 4-hour chart

USD/JPY is consolidating the early August drop while trading below its main SMAs. Bears would need a break below the 105.85 to reach 105.65 and 105.30 support to resume the downtrend, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

The market is in a tight range just above the 50 SMA. Bulls would need to break above the 106.13-25 resistance zone to climb towards 106.48, 106.91 and 107.20, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	106.12
Today Daily Change	-0.15
Today Daily Change %	-0.14
Today daily open	106.27

Trends
Daily SMA20	107.8
Daily SMA50	108.03
Daily SMA100	109.44
Daily SMA200	110.34

Levels
Previous Daily High	106.47
Previous Daily Low	105.49
Previous Weekly High	109.32
Previous Weekly Low	106.5
Previous Monthly High	109.01
Previous Monthly Low	107.21
Daily Fibonacci 38.2%	105.87
Daily Fibonacci 61.8%	106.1
Daily Pivot Point S1	105.68
Daily Pivot Point S2	105.09
Daily Pivot Point S3	104.7
Daily Pivot Point R1	106.67
Daily Pivot Point R2	107.06
Daily Pivot Point R3	107.65

Author

Flavio Tosti

Independent Analyst

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