USD/JPY technical analysis: The Greenback can rise to the 109.00 handle against Yen

USD/JPY holds onto weekly gains despite little progress this Friday.
The levels to beat for bulls is the 108.24 resistance 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, in August and September the currency pair has been rebounding up sharply now challenging the 100 SMA.

USD/JPY 4-hour chart

USD/JPY is trading above its main SMAs, suggesting a bullish bias in the medium term. The bull trend is intact and bulls are looking to trade beyond the 108.24 resistance level in order to set their eyes on the 109.00 resistance level, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

Dollar/Yen is trading above the main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at 107.79 level followed by the 107.50 and 107.23 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.12
Today Daily Change	0.02
Today Daily Change %	0.02
Today daily open	108.1

Trends
Daily SMA20	106.58
Daily SMA50	107.16
Daily SMA100	108.15
Daily SMA200	109.45

Levels
Previous Daily High	108.19
Previous Daily Low	107.52
Previous Weekly High	107.23
Previous Weekly Low	105.74
Previous Monthly High	109.32
Previous Monthly Low	104.45
Daily Fibonacci 38.2%	107.93
Daily Fibonacci 61.8%	107.78
Daily Pivot Point S1	107.68
Daily Pivot Point S2	107.27
Daily Pivot Point S3	107.01
Daily Pivot Point R1	108.36
Daily Pivot Point R2	108.61
Daily Pivot Point R3	109.03

Author

Flavio Tosti

Independent Analyst

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