Technical Analysis Daily: USD/JPY

Daily Forex Technicals | Written by iFOREX.bg | Oct 17 08 10:37 GMT |

USD/JPY 100.83 USD/JPY Open 100.57 High 101.76 Low 99.30 Close 99.92 The US Dollar climbed significantly yesterday against the Japanese Yen from Thursday's bottom 99.30 to this morning's top 101.76, which are the first support and resistance levels respectively for the currency couple today. But today the currency couple is in a correction mode, and if the negative trend continues, as we expect for the moment, next support further down is expected at 98.55, followed by 97.70. In upward direction next resistance further up is expected at 102.50, the break of which would open potential rise towards 103.30. Technical resistance levels: 101.75 102.50 103.30 Technical support levels: 99.30 98.55 97.70 Trading range: 100.95 - 100.30 Trend: Downward Sell at 100.83 SL 101.13 TP 100.43 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com