USD/JPY Technical Analysis: The 109.00 handle is still on the bulls' radar

 

 

USD/JPY is holding above the 108.00 handle and the 50-day simple moving average (DMA) on the daily chart. In the last 2.5 months, the market has been gradually appreciating.

 

 

 

USD/JPY is trading above the 108.50 support level near the 200 SMA. A break above the 108.73 level can drive the market towards the 108.94/109.05 resistance zone, according to the Technical Confluences Indicator.

  

 

USD/JPY is trapped in a range near flat SMAs on the 30-minute chart. Support is seen at the 108.50 and 108.27 levels, according to the Technical Confluences Indicator.