US Dollar Yen: technical chart indicators suggest broad uptrend

US Dollar Yen technical chart indicators and studies suggest broad uptrend. Quotes are above the 14 days moving average.

Monday, 14 November US Dollar Yen closing price was at 108.21 (+1.39%). Technical chart indicators and studies suggest broad uptrend, so today trading session forecast is for further price extensions towards the most significant resistance levels. The major oscillators confirm the upward trend.

US Dollar Yen chart indicators

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Simple Moving Average (SMA)
US Dollar Yen quotes are above the 14 days moving average (SMA value is 105.00). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.

Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 14/11/2016.

Performance: 7 trading days= +4.94% – 15 trading days= +3.89% – 30 trading days= +5.19%

Resistance levels: R1= 108.92 – R2= 109.64 – R3= 111.45
Pivot Point: 107.83
Support levels: S1= 107.11 – S2= 106.02 – S3= 104.21

Buying opportunity above 108.39 targets minor resistance at 108.90 and perhaps as far as strong resistance at 109.25, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 109.81.

Selling opportunity below 108.03 targets minor support at 107.51 and perhaps as far as strong support at 107.14, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 106.57.