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USD/JPY trading close to multi year highs

FXStreet (Guatemala) - USD/JPY is trading at 108.69, up 0.30% on the day, having posted a daily high at 108.97 and low at 108.31.

USD/JPY has lost grip of the September 2008 highs as we move around at the upper end of the 108 handle on a day on from the FOMC where the committed bulls are still trying to take opportunities on buying the dips but only to be rewarded with a hand full of pips in overbought territory. The biggest move on the day to the upside came as a result in the better than expected jobless claims in the United States.

USD/JPY hourly levels

Current price is 108.70, with resistance ahead at 108.82 (Daily Classic R1), 108.97, 109.04 (Weekly Classic R2), 109.27 (Daily Classic R2) and 110.14 (Daily Classic R3). Next support to the downside can be found at 108.53 (Hourly 20 EMA), 108.40 108.38 108.38 and 108.38.

USD/JPY retraces to 108.60

After testing the 109.00 area while reaching a fresh multi-ýear high of 108.95, the USD/JPY is now trading back at 108.60 where the pair is taking a breath in the second part of the American session.
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