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USD/JPY corrections are a buy

FXStreet (Guatemala) - USD/JPY is trading at 108.54, down -0.19% on the day, having posted a daily high at 108.80 and low at 108.48.

USD/JPY is holding in there and threatening to the bears an impressive aspect is the strength of the momentum indicators as noted by Richard Perry, a market Analyst at Hantec Markets. “ Any correction should be seen as a chance to buy, with the 4 week uptrend support now coming in at 108.10, while the intraday chart shows good support around 108.50”. He explained that we should expect further pressure on 109.45 resistance and then on towards the 110.65 high from 2008.

USD/JPY levels

Support levels: 108.50 108.20/10 107.70

Resistance levels: 109.00 109.45 109.80

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