USD/JPY technical analysis: Greenback trading at three-month highs against Yen, more upside likely

USD/JPY is clinging to multi-month highs near the 109.00 handle
The level to beat for bulls is the 109.15 resistance.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is challenging the 200-day simple moving average (DMA) at the 109.06 level. Since August, the market has been rebounding sharply. As discussed last Friday, USD/JPY is gaining further steam this week.

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. Bulls need to overcome the 109.15 resistance to continue the bull leg towards the 109.45 and 110.17 price levels, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is trading above its main SMAs, suggesting a bullish bias in the near term. Support is seen at the 108.92 and 108.70 levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.97
Today Daily Change	0.31
Today Daily Change %	0.29
Today daily open	108.66

Trends
Daily SMA20	108.05
Daily SMA50	107.46
Daily SMA100	107.58
Daily SMA200	109.06

Levels
Previous Daily High	108.78
Previous Daily Low	108.51
Previous Weekly High	108.78
Previous Weekly Low	108.25
Previous Monthly High	108.48
Previous Monthly Low	105.74
Daily Fibonacci 38.2%	108.67
Daily Fibonacci 61.8%	108.61
Daily Pivot Point S1	108.52
Daily Pivot Point S2	108.38
Daily Pivot Point S3	108.25
Daily Pivot Point R1	108.79
Daily Pivot Point R2	108.92
Daily Pivot Point R3	109.06

Author

Flavio Tosti

Independent Analyst

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