USDJPY Technical Analysis Report 9 July, 2021

• USDJPY reversed from support area
• Likely to rise to round support level 110.65

USDJPY currency pair recently reversed up from the support area located between the key support level 109.75 (low of the previous correction (iv) from the middle of June), lower daily Bollinger Band and the 50% Fibonacci retracement of the previous upward price impulse from the end of April. The upward reversal from this support area stopped the previous short-term correction 4.

Given the prevailing uptrend and improved dollar sentiment – USDJPY currency pair can be expected to rise further toward the next resistance level 110.65 (former support from the end of June and also from the start of July).

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