USD/JPY Price Analysis: Greenback trades in fresh May’s highs, challenging 108.00 figure

USD/JPY is trading in one-month highs on the second day of the week.
The level to beat for bulls is the 108.20 resistance.

USD/JPY four-hour chart

USD/JPY is in fresh May’s highs above the main SMAs on the four-hour chart. Buyers want a continuation of the upward movement eyeing a break above the 108.20 resistance en route towards the 109.00 figure. A daily close above the 107.75 resistance would be seen as bullish. On the other hand, support can be found near 107.40 and 107.00 levels.

Additional key levels

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