Technical analysis of USD/JPY 05/14/2021

On the daily chart, the USD/JPY currency pair is forming an upward movement within an uptrend. At the moment, the pair is trading at the resistance area of 109.70. A break of this level will open the way to the annual high of 111.00. Cancellation of the option for the pair growth will be a decline below the level of 107.50 (38.2% Fib), which will mean a possible continuation of the downward correction to the level of 106.70 (50% Fib) and (MA 100) on the daily timeframe.

USDJPY_STPDaily (4)

Created by Joshua Hayn

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