USD/JPY technical analysis: Greenback struggles to regain the 108.00 handle

USD/JPY is in search of a clear direction as the market is having a hard time to regain the 108.00 handle.
The level to beat for bears is the 107.80 support level.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bear trend below its 200-day simple moving averages (SMA). However, this September, USD/JPY is gaining strength now challenging the 100 SMA and the 108.00 handle.

USD/JPY 4-hour chart

USD/JPY is trading between the 50 and 100 SMAs, suggesting a consolidation in the medium term. The market is trading above the 107.80 support with little bullish conviction as the 50 SMA is capping gains.

USD/JPY 30-minute chart

Dollar/Yen has been trading in a range for the last six days. The drop on Thursday was sharp and bulls will have to bring the market back above the 108.50 level in order to attract more buyers. On the flip side, a daily close below 107.80 could open the gates to further losses towards 107.50 and 107.25, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	107.88
Today Daily Change	-0.14
Today Daily Change %	-0.13
Today daily open	108.02

Trends
Daily SMA20	107
Daily SMA50	107.11
Daily SMA100	107.99
Daily SMA200	109.32

Levels
Previous Daily High	108.48
Previous Daily Low	107.78
Previous Weekly High	108.26
Previous Weekly Low	106.76
Previous Monthly High	109.32
Previous Monthly Low	104.45
Daily Fibonacci 38.2%	108.05
Daily Fibonacci 61.8%	108.21
Daily Pivot Point S1	107.71
Daily Pivot Point S2	107.4
Daily Pivot Point S3	107.02
Daily Pivot Point R1	108.4
Daily Pivot Point R2	108.78
Daily Pivot Point R3	109.09

Author

Flavio Tosti

Independent Analyst

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