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USD/JPY Price Analysis: Greenback trades in 2.5-month highs vs. Japanese yen

  • USD/JPY is holding near levels last seen in late March 2020. 
  • The level to beat for bulls is the 109.75 resistance.   
 

USD/JPY four-hour chart

 
USD/JPY is trading off the June’s highs just below the 109.75 resistance. As bulls remain in charge above the main SMAs on the four-hour chart, a break of the 107.75 resistance could lead to further upside towards the 110.12 and 110.90 price levels. On the other hand, retracements down could find support near the 108.81 and 108.36 levels initially. 
 

Additional key levels

 

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