Technical Analysis Daily

USD/JPY 104.84 - 16 May

USD/JPY Open 104.98 High 105.37 Low 104.15 Close 104.68

The US Dollar descended sharply against the Japanese Yen, reaching 104.15, which is the first support for the currency couple today, than rose up to 108.85. Next support further down is expected at 103.45, followed by 102.60. In upward direction first resistance for today is expected at yerterday's mid day top 105.15. Next resistance upwards is expected at 103.45, followed by 102.60.

Technical resistance levels: 105.15 106.00 106.70
Technical support levels: 104.15 103.45 102.60

Trading range: 104.95 - 104.30
Trend: Downward
Sell at 104.84 SL 105.14 TP 104.44

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