USD/JPY Climbs Back to 109.00 Zone
USD/JPY advanced during the American session and reached fresh daily highs in recent dealings, despite below expectations US data.
USD/JPY climbed back above the 109 mark and hit a daily peak of 109.08
before losing momentum. At time of writing, the pair was trading at
109.02, up 0.45% on the day. However, from a wider view, the pair
continues to consolidate within last week’s range, moving alternatively
one day up and the next down, unable to set longer-term direction.
USD/JPY levels to watch
As for technical levels, next resistances are seen at 109.54 (May 13
high), 110.11 (10-week SMA) and 110.42 (50-day SMA). On the other hand,
supports could be found at 108.45 (May 16 low), 108.22 (May 12 low) and
108.05 (10-day SMA).
