Forex News

US dollar taking a breather near 109.00 figure vs. Japanese yen

  • USD/JPY consolidates gains near the 109.00 figure. 
  • The level to beat for bulls is the 109.50 resistance.

 

USD/JPY daily chart

 

USD/JPY is trading above the 200 SMA on the daily chart as the quote is trying to stabilize above the 107.00 level amidst better market mood. 

 

USD/JPY four-hour chart

 

The bull trend remains intact as the market trades above the 108.70 support level and the 50/200 SMAs on the four chart. Bulls are likely looking for a break above the 109.50 resistance which would open the doors to the 110.00 and 111.00 handle on the way up while support can emerge near 108.70, 108.00 ad 107.00 price levels.  

 

Additional key levels

 

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