Technical Analysis Daily: USD/JPY

USD/JPY 99.61

USD/JPY Open 105.27 High 103.28 Low 98.63 Close 101.12

The US Dollar continued descending significantly yesterday against the Japanese Yen from Tuesday's top 103.28 to today's bottom 98.63, which are the first resistance and support levels respectively for the currency couple today. The Yen remains as the strongest major currency on the market, and if the negative trend of the currency couple continues, as we expect for the moment, next support further down is expected at 97.85, followed by 97.00. In upward direction next resistance further up is expected at 104.00, the break of which would open potential rise towards 104.85.

Technical resistance levels: 103.30 104.00 104.85
Technical support levels: 98.65 97.85 97.00

Trading range: 99.75 - 99.10

Trend: Downward

Sell at 99.61 SL 99.91 TP 99.21

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