USD/JPY technical analysis: Greenback erases most of Tuesday’gains against Yen, trades above 105.70 level

 |  14/08/2019 16:42
  • USD/JPY is erasing most of the gains established on Tuesday. 
  • The levels to beat for bulls are at the 105.90 and 106.12 resistances.
 

USD/JPY daily chart

 
 
USD/JPY is trading near multi-month lows while below the main daily simple moving averages (DSMAs). Trade war news are driving USD/JPY price action. 
 

USD/JPY 4-hour chart

 
USD/JPY is trading below its main SMAs, suggesting bearish momentum. The market is erasing parts of the gains made on Tuesday. However, the pullback down seems overdone and the bears need to break below 105.68 to drive the market down towards 105.30, according to the Technical Confluences Indicator. 
 
 

USD/JPY 30-minute chart

 
USD/JPY dropped to the 105.70 level near the 200 SMA. Bulls have a lot of work if they want to undo the bearish damage. They have several layers of resistances to break at 105.90, 106.12, 106.30, 106.55 and 106.77 levels, according to the Technical Confluences Indicator. 
 
 
 
 

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