Greenback rolling into the Asian session below 108.50 against Yen

  


  • USD/JPY is off the monthly high below the 108.50 resistance.
  • The current retracement could extend to 108.41 and the 108.03 support levels.

 

USD/JPY daily chart

 

 

USD/JPY is trading off the monthly highs as the market is above the 50-day simple moving average (DSMA).  

 

USD/JPY 4-hour chart

 

 

USD/JPY is trading above its main SMAs, suggesting bullish momentum in the medium term. However, bulls need a breakout above 108.50 to reach 109.40 resistance to the upside, according to the Technical Confluences Indicator.

 

 

USD/JPY 30-minute chart

 

USD/JPY is trending below the 50 and 100 SMAs, suggesting a potential correction down in the near term. The market could declines towards 108.41 and the 108.03 support levels, according to the Technical Confluences Indicator. 

 

Additional key levels

 



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