USD/JPY technical analysis: Greenback trading at its highest in two days as China is ready to negotiate

China is ready to do a deal on parts of negotiations both sides agree upon.
USD/JPY broke above the 107.00 handle on the news, which saw the demand for safe-haven Yen go down.
The level to beat for bulls is the 107.40 resistance.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The market found support near the 50 SMA.

USD/JPY four-hour chart

USD/JPY is rebounding from the October lows and is now challenging the 107.40 resistance near the 50 SMA. A break above this level should lead to the 107.70 resistance, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

The USD/JPY currency pair is trading above the main SMAs, suggesting bullish momentum in the near term. Immediate supports are seen at the 107.20 and 107.00 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	107.15
Today Daily Change	0.22
Today Daily Change %	0.21
Today daily open	106.93

Trends
Daily SMA20	107.7
Daily SMA50	106.99
Daily SMA100	107.71
Daily SMA200	109.1

Levels
Previous Daily High	107.13
Previous Daily Low	106.58
Previous Weekly High	108.48
Previous Weekly Low	106.48
Previous Monthly High	108.48
Previous Monthly Low	105.74
Daily Fibonacci 38.2%	106.92
Daily Fibonacci 61.8%	106.79
Daily Pivot Point S1	106.63
Daily Pivot Point S2	106.33
Daily Pivot Point S3	106.08
Daily Pivot Point R1	107.18
Daily Pivot Point R2	107.43
Daily Pivot Point R3	107.73

Author

Flavio Tosti

Independent Analyst

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