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USD/JPY technical analysis: The greenback is under pressure against the Japanese Yen

  • USD/JPY is under bearish pressure below the 107.10 resistance.
  • The level to beat for bears is the 106.70 level. 

USD/JPY daily chart 

USD/JPY is in a bear trend below its main daily simple moving averages (DSMAs). The 50 DSMA crossed below the 100 DSMA which is seen as bearish. 


USD/JPY 4-hour chart

USD/JPY is trading below its main SMAs suggesting bearish momentum in the medium term. The market is finding some support near 107.00.

USD/JPY 30-minute chart

A break above 107.10 could open the doors to 107.50/70 resistance according to the Technical Confluences Indicator. On the flip side, a break below 106.70 on a daily closing basis can see the main bear trend resuming and open the doors for a bigger drop to the 106.00 figure.


Additional key levels

 

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