Technical Analysis Daily: USD/JPY

USD/JPY 109.09

USD/JPY Open 110.07 High 109.88 Low 108.70 Close 109.51

The US Dollar climbed significantly yesterday against the Japanese Yen from Wednesday's bottom 108.70 to the top 109.88, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues as we expect for today, next resistance further up is expected at 110.50, the break of which would open potential rise towards 111.25. In downward direction next support further down is expected at 108.05, followed by 107.40.

Technical resistance levels: 109.90 110.50 111.25
Technical support levels: 108.70 108.05 107.40

Trading range: 108.95 - 109.60

Trend: Upward

Buy at 109.09 SL 108.79 TP 109.49

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