USD/JPY Price Analysis: Greenback sidelined below 108.00 figure vs. Japanese yen

 

 

USD/JPY is trading below the main SMAs (simple moving averages) on the daily chart as the quote is trapped in familiar ranges. 

 

 

 

USD/JPY is trading below the 50 and 100 SMAs on the four-hour chart suggesting a negative bias in the medium term. The spot is sidelined below the 108.00 figure unable to find a clear direction. The level to beat for bears is the 107.00 support while 108.00 can act as resistance.