USD/JPY technical analysis: Greenback sidelined against Yen, holding at multi-week highs


  • Brexit optimism and positive US-China trade talks are lessening the demand for the safe-haven Yen. 
  • USD/JPY is holding stable this Wednesday above the 108.56 level. 
 

USD/JPY daily chart

 
 
USD/JPY is trading in a downtrend below its 200-day simple moving average (DSMA). However, the spot has been bouncing sharply from the October lows and is now trading close to two-month highs. Optimism over Brexit and the US-China trade talks are lessening the demand for the safe-haven Yen. 
 

USD/JPY four-hour chart

 
 
USD/JPY is trading above its main SMAs on the four-hour chart, suggesting a bullish bias in the medium term. A daily close above the 108.56 resistance could open the doors to the 109.18 price level, according to the Technical Confluences Indicator

USD/JPY 30-minute chart

 
 
USD/JPY is trading above the 100 and 200 SMAs, suggesting bullish momentum in the near term. Immediate supports are seen at the 108.56 and 108.16 price levels, according to the Technical Confluences Indicator. 
 

Additional key levels

USD/JPY

Overview
Today last price 108.73
Today Daily Change -0.13
Today Daily Change % -0.12
Today daily open 108.86
 
Trends
Daily SMA20 107.72
Daily SMA50 107.05
Daily SMA100 107.57
Daily SMA200 109.07
 
Levels
Previous Daily High 108.9
Previous Daily Low 108.15
Previous Weekly High 108.63
Previous Weekly Low 106.65
Previous Monthly High 108.48
Previous Monthly Low 105.74
Daily Fibonacci 38.2% 108.62
Daily Fibonacci 61.8% 108.44
Daily Pivot Point S1 108.38
Daily Pivot Point S2 107.89
Daily Pivot Point S3 107.63
Daily Pivot Point R1 109.12
Daily Pivot Point R2 109.38
Daily Pivot Point R3 109.87

 

 

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