Chart of the Day: USD/JPY

The USD/JPY is the latest JPY pair that has found some support and started to move back up.

With the trend being up, traders should look for buy positions with protective stops placed below support. Target to take profits should set at twice that risk for our 1:2 risk:reward ratio.

Technical resistance levels: 99.90 100.80 102.00
Technical support levels: 98.15 97.00 95.85

Trading range: 99.25 - 98.60
Trend: Downward
Sell at 99.13 SL 99.43 TP 98.73