- Memorial Day in the US can provide little voloatility this Monday.
- USD/JPY bulls are attempting to gain some ground but there is more work to be done.
USD/JPY daily chart
USD/JPY is trading at multi-month lows below its main simple moving averages (SMAs).
USD/JPY 4-hour chart
USD/JPY is trading under bearish pressure below its main SMAs.
USD/JPY 30-minute chart
USD/JPY is starting the week quietly and trading within last week range above the 109.30 support and the 50 SMA. USD bulls want to bring back the market above 109.60 and 109.75 swing highs. If they succeed then 110.00 can be back on the radar. On the flip side, if the sellers have a daily close below 109.30 and 109.00 the figure then investors might brace themselves for further weakness.
Additional key levels
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