USDJPY Technical Analysis – June 28, 2021

USDJPY rose on Friday, and the technical bias is bearish due to the lower high store in the recent downtrend.

The pair is currently trading near 110.793, and multiple resistance level can be seen above which may prevent the price from rising further.

  • Resistance level 1: 110.950
  • Resistance level 2: 111.100
  • Resistance level 3: 111.350

Below the price, multiple support levels can be seen which may prevent the price from falling.

  • Support level 1: 110.700
  • Support level 2: 110.500
  • Support level 3: 110.330

The United States will release the June non-agricultural employment data this Friday. Higher employment data will indicate favorable for the US dollar, therefore, the USDJPY currency pair is bullish, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the USDJPY currency pair near the current price.