USD/JPY technical analysis: Greenback supported above 108.00 figure against Yen

• USD/JPY is forming a base near the 108.00 figure.
• Bulls would need to break above 108.50 to get out of the woods.

USD/JPY daily chart

USD/JPY is trading in a bear leg below its main daily simple moving averages (DSMAs).

USD/JPY 4-hour chart

USD/JPY is consolidating above the 108.00 figure.

USD/JPY 30-minute chart

Bulls are attempting to rebound from the 108.00 figure as the market is trading above the 50 and 100 SMAs. A break above 108.50 can lead to 108.80 and 109.20 to the upside. Support is at 108.00, 107.80 and 107.30.

Additional key levels