USD/JPY Technical Analysis: Set to rise to the 111.00 handle

 

 

USD/JPY is trending up above the 109.00 figure and the 200-day simple moving average (DMA) on the daily chart. The spot is trading at levels not seen since late May 2019. 

 

 

 

USD/JPY is trending up as the market is settling above the 109.46 level ahead of the Asian session. As the buyers took control, the market might extend the up move towards the 109.92/110.00 resistance zone and the 110.75/111.00 resistance zone, according to the Technical Confluences Indicator.

  

 

USD/JPY is trading above the main SMAs on the 30-minute chart suggesting a bullish momentum in the near term. Support is seen at the 109.46, 109.33 and 109.10 price levels, according to the Technical Confluences Indicator.