iforex.bg

USD/JPY 108.10 - 20 February
USD/JPY Open 107.93 High 108.28 Low 107.23 Close 107.89

The currency couple US Dollar/Japanese Yen continues to trade within a range 107.20 - 108.30, which levels are still the first support and resistance respectively for today. 107.20 is 38% Fibonacci correction of the last rise 105.00 - 108.55. If that level is overcome, next support upwards is 106.70, and 106.25, which are 49.8% and 61.5% respectively correction of the above rise. In upward direction the resistance is the upper Bollinger line on a daily basis at 108.30, followed by the top from 12 February 108.70, and 109.20.
Technical resistance levels: 108.30 108.70 109.20
Technical support levels: 107.20 106.70 106.25

Trading range: 108.20 - 107.60
Trend: Downward
Sell at 108.10 SL 107.40 TP 107.70