USD/JPY technical analysis: Greenback is gaining ground against the Yen, trading above 106.55 level

The demand for Yen as a safe-haven currency has been weak in the last four days.
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 bouncing from multi-month lows while under the main daily simple moving averages (DSMAs). The market is trading above the 106.00 handle as the bear trend is on hold. Trade war news and US bond yields are the primary drivers of the USD/JPY currency pair.

USD/JPY 4-hour chart

USD/JPY is grinding higher above the 50 SMA. Bulls are looking to trade above 106.77 to reach 107.07 according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

Dollar/Yen is trading above its main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at 106.55 and 106.30 according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	106.59
Today Daily Change	0.22
Today Daily Change %	0.21
Today daily open	106.37

Trends
Daily SMA20	107.13
Daily SMA50	107.69
Daily SMA100	109.12
Daily SMA200	110.08

Levels
Previous Daily High	106.5
Previous Daily Low	106.03
Previous Weekly High	106.98
Previous Weekly Low	105.05
Previous Monthly High	109.01
Previous Monthly Low	107.21
Daily Fibonacci 38.2%	106.32
Daily Fibonacci 61.8%	106.21
Daily Pivot Point S1	106.1
Daily Pivot Point S2	105.83
Daily Pivot Point S3	105.63
Daily Pivot Point R1	106.57
Daily Pivot Point R2	106.77
Daily Pivot Point R3	107.04

Author

Flavio Tosti

Independent Analyst

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