Technical Analysis Daily

USD/JPY 106.63 - 14 July

USD/JPY Open 106.22 High 107.28 Low 105.81 Close 106.42

The US Dollar dropped significantly on Friday against the Japanese Yen from Friday's top 107.30 to the bottom 105.80, which are the first resistance and support levels respectively for the currency couple today, but today the USD/JPY shows a positive sentiment. If the negative trend continues, next support further down is expected at 105.00, the break of which would open potential drop towards 104.40. In upward direction next resistance is expected at 108.00, followed by 108.75.

Technical resistance levels: 107.30 108.00 108.75
Technical support levels: 105.80 105.00 104.40

Trading range: 106.50 - 107.15
Trend: Upward
Buy at 106.63 SL 106.33 TP 107.03

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