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USD/JPY clears descending resistance line

FXStreet (Guatemala) - USD/JPY is trading at 108.69, up 0.26% on the day, having posted a daily high at 108.75 and low at 108.35.

The Nikkei has opened down 0.29%. But, as for the USD/JPY, it is denying the descending trend line through 108.60 with a recovery above 108.60 now probably favouring an approach back to the 109.00 level, as Valeria Bednarik, chief analyst at FXstreet pointed out. “In the 4 hours chart indicators stand in oversold territory, with little aims to revert higher at the time being. Critical support for the upcoming 24 hours stands at 107.70 as if US employment figures disappoint and the pair closes the week below it, further slides are to be expected for next week”.

Support levels: 108.60 108.20 107.70 107.30

Resistance levels: 108.90 109.15

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