USD/JPY technical analysis: Support holds at 108.00 handle

• USD/JPY is creating a base near the 108.00 figure.
• Buyers need to break beyond 108.50 to generate bullish momentum.

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 near the 108.00 handle.

USD/JPY 30-minute chart

Bulls are attempting to create a rebound from the 108.00 figure as the market is trading above its main SMAs. A breakout beyond 108.50 should lead to 108.80 and 109.20 to the upside. Support is seen at 108.00, 107.80 and 107.30.

Additional key levels