USD/JPY techncial analaysis: Greenback off monthly lows against Yen, sub-107.83

• USD/JPY is trading at daily highs as bulls target 107.83.
• Supports are seen at 107.50 and 107.20. 

USD/JPY daily chart

 
USD/JPY is erasing parts of the losses genearted by Fed’s Williams commenst on Thursday.  

USD/JPY 4-hour chart
 

USD/JPY is trading below its main SMAs as the market is revounding from monthly lows. Bears need to break below 107.50 to reach 107.20 on the way down, according to the Technical Confluences Indicator. 

USD/JPY 30-minute chart
 

USD/JPY is trading at daily highs near 107.70 and above its 50 SMA. The market is challenging the 100 SMA. Dollar bulls would need to overcome 107.83 to reach 108.05 resistance. 

Additional key levels