USD/JPY technical analysis: Greenback is about to enter the Asian session above 107.83 against Yen

• USD/JPY is rebounding from the monthly lows as buyers are challenging the 108.00 figure.
• The levels to beat for bulls are seen at 108.03 and the 108.27 resistance level.

USD/JPY daily chart

USD/JPY is up small this Monday as the market is trading below the main SMAs. Spot is trading just below the 108.00 figure.

USD/JPY 4-hour chart

USD/JPY is ranging below the main SMAs as the market is off the monthly lows. Sellers want to break below 107.83 resiatnce to reach 107.20 on the way down, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is trading jsut above its main SMAs suggesting bullish momentum in the near term. Buyers  need to break above 108.03 to travel towards 108.27 resistance.

Additional key levels