USD/JPY technical analysis: Greenback supported above the 107.00 handle

USD/JPY is in correcting up as the market is supported above 107.00.
The level to beat for bulls is 107.70 followed by 108.25 resistance.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bear trend below its main daily simple moving averages (DSMAs). The 50 DSMA crossed below the 100 DSMA which can be interpreted as bearish. USD/JPY almost reached the 107.00 figure.

USD/JPY 4-hour chart

USD/JPY below its main SMAs suggesting bearish momentum in the medium term. Last week, the market found support near the 107.00 figure and is now in a correction up.

USD/JPY 30-minute chart

A break above 107.70 (current Friday high) could open the doors to 108.25 strong resistance according to the Technical Confluences Indicator. Alternatively, a break below 107.00 on a daily closing basis can see the main bear trend resuming and open the gates for a potential drop to 106.00 figure.

Additional key levels

USD/JPY

Overview
Today last price	107.32
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	107.32

Trends
Daily SMA20	108.49
Daily SMA50	109.9
Daily SMA100	110.43
Daily SMA200	111.15

Levels
Previous Daily High	107.74
Previous Daily Low	107.04
Previous Weekly High	108.73
Previous Weekly Low	107.04
Previous Monthly High	111.71
Previous Monthly Low	108.23
Daily Fibonacci 38.2%	107.47
Daily Fibonacci 61.8%	107.31
Daily Pivot Point S1	107
Daily Pivot Point S2	106.68
Daily Pivot Point S3	106.31
Daily Pivot Point R1	107.69
Daily Pivot Point R2	108.06
Daily Pivot Point R3	108.38

Author

Flavio Tosti

Independent Analyst

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