USD/JPY technical analysis: Greenback holds onto weekly gains against Yen near 108.00 handle

USD/JPY holds onto weekly gains despite broad-based USD weakness.
The levels to beat for buyers is the 108.24 resistance level.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bear trend below its 100 and 200-day simple moving averages (DSMAs). However, since August the market has been rebounding sharply now challenging the 108.00 figure.

USD/JPY 4-hour chart

USD/JPY is trading above its main SMAs, suggesting bullish momentum in the medium term. Bulls will be looking for a break beyond the 108.24 resistance in order to set their eyes on the 108.91 resistance level, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

Dollar/Yen is trading above the main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at 107.79 level followed by the 107.50 and 107.23 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.06
Today Daily Change	0.24
Today Daily Change %	0.22
Today daily open	107.82

Trends
Daily SMA20	106.48
Daily SMA50	107.15
Daily SMA100	108.19
Daily SMA200	109.47

Levels
Previous Daily High	107.86
Previous Daily Low	107.5
Previous Weekly High	107.23
Previous Weekly Low	105.74
Previous Monthly High	109.32
Previous Monthly Low	104.45
Daily Fibonacci 38.2%	107.72
Daily Fibonacci 61.8%	107.64
Daily Pivot Point S1	107.59
Daily Pivot Point S2	107.36
Daily Pivot Point S3	107.22
Daily Pivot Point R1	107.96
Daily Pivot Point R2	108.09
Daily Pivot Point R3	108.32

Author

Flavio Tosti

Independent Analyst

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