Currency Analyst since 2010

USD/JPY: bullish view

USD/JPY edged down today from the day’s high around 101.50. US dollar slid a bit after it gained more than 100 pips on Friday as US Non-farm payrolls turned out to be much better than expected.  

The pair’s now trying to leave the daily Ichimoku Cloud – the greenback’s trading close to its upper border at 101.17. After the bulls overcome this obstacle, the way to the May high at 103.73 will be open. Support lies at 100.85, 100.00 and 98.30. Resistance lies at 101.40/50, 102.00 and 102.50.

Chart. Daily USD/JPY

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