USD/JPY Strengthens, Eyes Key Resistance At 107.04

Forex Trades • Aug 25, 2020 at 2:18 PM EDT

USD/JPY looks to extend price gain following its strong rally during Tuesday trading session today. On the downside, support comes in at 106.00 level.

USD/JPY looks to extend price gain following its strong rally during Tuesday trading session today. On the downside, support comes in at 106.00 level. Below this level will turn attention to the 105.50 level. Further down, support is seen at the 105.00 level. A cut through here will open the door for more decline towards the 104.50. On the upside, resistance comes in at the 107.00 level where a break will target the 107.50 level. Below that level will turn focus to the 108.00 level and then lower towards the 108.50 level. On the whole, USD/JPY faces further upside threats in the days ahead.

Disclaimer:

All the data in this article is for information and educational purposes only. Although the information contained in this article have been compiled or arrived at from sources believed to be reliable, no representation or warranty, expressed or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the web site and its third party providers incur any responsibility. Please read the full disclaimer and term of use here.