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5 Aug 2019
USD/JPY technical analysis: Greenback on the defensive against Yen trading near multi-month lows
- USD/JPY is under pressure at multi-month lows while the US-China trade war keeps the Yen in demand.
- The level to beat for bears are seen at 105.85, 105.65 and 105.30 support.
USD/JPY daily chart
USD/JPY is trading to multi-month lows while below its main daily simple moving averages (DSMAs). The US-China trade war is inducing risk-off sentiment and therefor creating demand for the Japanese Yen.
USD/JPY 4-hour chart
USD/JPY is trading below its main SMAs, suggesting bearish momentum in the medium term. Bears want to keep the market under pressure and reach 105.85, 105.65 and 105.30 support, according to the Technical Confluences Indicator.
USD/JPY 30-minute chart
The market is trading below the main SMAs, suggesting a bearish bias in the short term. Resistances are seen near 106.13-25, 106.91 and 107.20, according to the Technical Confluences Indicator.
Additional key levels