Technical Analysis Daily: USD/JPY

USD/JPY 102.06

USD/JPY Open 100.57 High 103.03 Low 99.58 Close 100.19

The US Dollar climbed significantly yesterday against the Japanese Yen from Monday's bottom 99.58 to this morning's top 103.03, which are the first support and resistance levels respectively for the currency couple today. If the positive trend of the currency couple continues, as we expect for the moment, next resistance further up is expected at 103.85, the break of which would open potential rise towards 104.70. In downward direction next support further down is expected at 98.90, followed by 98.05.

Technical resistance levels: 103.05 103.85 104.70
Technical support levels: 99.58 98.90 98.05

Trading range: 101.95 - 102.60

Trend: Upward

Buy at 102.06 SL 101.76 TP 102.46

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