USD/JPY takes a breather, holds onto tiny gains

By FXStreet The dollar is taking a breather on Friday, having advanced slightly versus the yen following five straight days of losses and fresh 17-month lows.

USD/JPY bounced from a fresh low of 107.66 scored on Thursday, but with the bounce capped by the 109.10 area, the pair settled in a range below the 109 mark, holding onto small daily gains. At time of writing, the pair was trading at 108.35, 0.17% above its opening price.

USD/JPY levels to watch

As for technical levels, next supports are seen at 107.66 (Apr 7 low), 107.09 (Oct 23 2014 low) and (Oct 15 2014 low). On the other hand, resistances could be found at 109.10 (Apr 8 high), 109.90 (Apr 7 high) and 110.63 (Apr 6 high).
For more information, read our latest forex news. …read more

Source:: FX Street