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USD/JPY tailing off from multi year highs

FXStreet (Guatemala) - USD/JPY is trading at 108.42, up 0.05% on the day, having posted a daily high at 108.70 and low at 108.31.

The USD/JPY is tailing off from multi year highs while the Nikkei opened higher opening close to 1% up. The pair has ridden the FOMC over a big figure to the highs with some static support broken from back from 2008 monthly highs now in the 108.50 price zone as noted by chief analysts at FXStreet, Valeria Bednarik. “Further advances beyond 108.50 should see the pair looking to extend its rally towards critical 110.00 price zone over the upcoming days”.

USD/JPY support and resistance levels

Support levels: 107.90 107.40 106.80

Resistance levels: 108.50 108.80 109.10

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