OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY technical analysis: Greenback clings to weekly highs near 107.90 level

  • USD/JPY holds onto weekly gains as the market is nearing the 107.90 resistance.
  • The levels to beat for bulls is the 107.90/108.13 resistance zone.
 
 

USD/JPY daily chart

 
 
USD/JPY is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The market broke above the 107.00 figure and the 50 SMA. 
 
 

USD/JPY 4-hour chart

 
 
USD/JPY is trading above its main SMAs, suggesting bullish momentum in the medium term. Bulls will be looking for a break beyond the 107.90/108.13 resistance zone in order to set their eyes on the 108.92 resistance level, according to the Technical Confluences Indicator. 
 
  
 

 

USD/JPY 30-minute chart

 
 
Dollar/Yen is trading above the main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at 107.42 level followed by the 106.90  level, according to the Technical Confluences Indicator. 
 

Additional key levels

 

EUR/CHF bears back in control ahead of the ECB

German growth downgrades are weighing on the euro and the EUR/CHF has run into supply ahead of the highly anticipated European Central Bank meeting to
Read more Previous

Prime Minister Justin Trudeau announced Canada’s federal election

Prime Minister Justin Trudeau announced Canada’s federal election today where he will be seeking to win a ­second term in the face of an ethics scanda
Read more Next
Start livechat