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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

 

Aug 5, 2019

USD/CNY: Devaluation not on the cards, level of 7 breached – Danske Bank

Danske Bank analysts point out that the recent escalation in the trade war pushed USD/CNY above the psychological level of 7.0 on Monday. Key Quotes “
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Aug 5, 2019

USD/CAD drops to four-day lows, moves away from weekly tops

The USD/CAD pair peaked earlier today above 1.3240 and then turned to the downside. Recently bottomed at 1.3176, the lowest since July 31. As of writi
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