Technical Analysis Daily

USD/JPY 105.72 - 9 June

USD/JPY Open 104.87 High 106.35 Low 105.08 Close 105.02

The US Dollar cheapened significantly against the Japanese Yen on Friday, descending from Friday's top at 106.35 to today's bottom 105.08, which are the first resistance and support levels respectively for today. If the negative trend continues, next support further down is expected at 104.40, the break of which would open potential drop towards 103.15. In upward direction next resistance is expected at 107.00, followed by 107.80.

Technical resistance levels: 106.35 107.00 107.80
Technical support levels: 105.10 104.40 103.15

Trading range: 105.85 - 105.10
Trend: Downward
Sell at 105.72 SL 106.02 TP 105.32

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