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USD/JPY creeping back away from the lows

FXStreet (Guatemala) - USD/JPY is trading at 109.40, up 0.10% on the day, having posted a daily high at 109.76 and low at 109.13.

USD/JPY has been trying to recover since meting the lows on the open of the American session and we might expect the pair to creep back into line with expectations of a firmer dollar overall in the current environment. If so, the pair face the challenge yet again of the mid way point that served as the first barrier before eyeing the levels on the 1.10 handle on it’s quest for yearly highs. To the downside the handle acts as a psychological prop that may require some seriously committed offers until stops are triggered.

USD/JPY levels

With spot trading at 109.40, we can see next resistance ahead at 109.55, 109.73 (Daily Classic R1), 109.76, 109.81 (Weekly Classic R1) and 110.18 (Daily Classic R2). Support below can be found at 109.37 (Hourly 20 EMA), 109.30 (Daily Open), 109.29 and 109.29 (Annual High).

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