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Long

USD/JPY faces resistance at 109.50, break above targets 110.75

FX:USDJPY   U.S. Dollar / Japanese Yen
225 0 9
Major support – 108 (7 day EMA )

Major resistance – 109.50 ( 61.8% retracement of 111.88 and 105.54)

USD/JPY             has retreated after making a high of 109.39. It is currently trading around 108.83.

Minor weakness can be seen only below 108 level. Any break below 108 will drag the pair down till 107.45 (Tenken-Sen)/106.99 ( 61.8% retracement of 105.54 and 109.36).

On the higher side major resistance is around 109.50 and any indicative break above targets 110/110.75.

It is good to buy above 109.50 with SL around 108.85 for the TP of 110/110.75
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