USDJPY 08.06.2021

Technical Analysis
Tuesday, June 08, 2021 - 15:14
Point Trader Group
USDJPY 08.06.2021

Overview: 

Prices are moving in a downtrend. 

Expected scenario: 

The pair is trading below a strong resistance level around 109.60, which enhances the chances of descending during the day to 109.18 

Alternative scenario: 

On the other hand, we see that in case of breaking the 109.60 level upwards, it may push the pair further upwards, to reach 109.90.

Resistance levels

109.50

109.60

109.60

Support levels

109.18

109.00

108.84

 

  Disclosure of risk:     Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.


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