Technical Analysis Daily

USD/JPY 95.18 - 21 November

USD/JPY Open 93.97 High 97.39 Low 94.99 Close 93.69

The U.S. currency descended against the Yen yesterday. Bottom level was reached at 93.54, and closing the day at 94.18. During the Asian session the currency couple traded around 94.70, due to the stabilization of financial markets overnight. In the short term we see possible consolidation in downward direction. The long term target remains at around 89.35. Immediate resistance levels are around 95.50 followed by 96.35. Short term support is the 94.40 level, which is a bottom from yesterday, followed by 92.75.

Technical resistance levels: 95.50 96.35 97.20
Technical support levels: 94.40 93.30 92.40

Trading range: 95.30 - 94.65
Trend: Downward
Sell at 95.18 SL 95.48 TP 94.78

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