16 Sep 2019
USD/JPY technical analysis: Greenback closes the weekly gap and challenges the 108.00 handle
- USD/JPY closes the weekly gap as the Greenback is strengthening across the board.
- The level to beat for buyers is the 108.24 resistance level.
USD/JPY daily chart
The USD/JPY currency pair is trading in a bear trend below the 200-day simple moving averages (SMA). However, in August and September USD/JPY had a solid advance now challenging the 100 SMA and the 108.00 figure.
USD/JPY 4-hour chart
USD/JPY is trading above the main SMAs, suggesting bullish momentum in the medium term. The bull trend remains intact as buyers 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 its 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