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USD/JPY bulls are defiant

FXStreet (Guatemala) - USD/JPY is trading at 107.09, down -0.09% on the day, having posted a daily high at 107.35 and low at 106.81

USD/JPY has bounced back and achieved the 107 handle yet again as bulls are defiant. However the short term trend offers direction to the downside although many analysts have their forecasts set for higher territory yet. “Over the last two months JPY has fallen over 6% and is resting leading into the Fed meeting. We hold a year‐end 109 target, explained Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank.

USD/JPY hourly levels

With spot trading at 107.09, we can see next resistance ahead at 107.12 (Hourly 20 EMA), 107.19 and 107.35. Support below can be found at 107.08 (Hourly 100 SMA), 107.00 (Daily Classic S1) and 106.82 (Daily Classic S2).

USD/CHF find support around 0.9300

Greenback weakened across the board and pushed USD/CHF to the downside. The pair bottomed at 0.9299, hitting a 1-week low. Afterwards bounced to the upside and currently trades at 0.9314/16, 0.37% below today’s opening price.
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