USD/JPY technical analysis: Greenback supported above the 107.00 handle

USD/JPY is trading in a bear trend below its main daily simple moving averages (DSMAs). The 50 DSMA crossed below the 100 DSMA which can be interprete  |  24/06/2019 22:00
  • USD/JPY is in correcting up as the market is supported above 107.00.
  • The level to beat for bulls is 107.70 followed by 108.25 resistance.

USD/JPY daily chart 

USD/JPY is trading in a bear trend below its main daily simple moving averages (DSMAs). The 50 DSMA crossed below the 100 DSMA which can be interpreted as bearish. USD/JPY almost reached the 107.00 figure.


USD/JPY 4-hour chart

USD/JPY below its main SMAs suggesting bearish momentum in the medium term. Last week, the market found support near the 107.00 figure and is now in a correction up.

USD/JPY 30-minute chart

A break above 107.70 (current Friday high) could open the doors to 108.25 strong resistance according to the Technical Confluences Indicator. Alternatively, a break below 107.00 on a daily closing basis can see the main bear trend resuming and open the gates for a potential drop to 106.00 figure.


Additional key levels

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com