USDJPY Technical Analysis – June 4, 2021

USDJPY rose on Thursday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 110.327, and multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 110.550
  • Resistance level 2: 110.950
  • Resistance level 3: 111.350

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

  • Support level 1: 109.950
  • Support level 2: 109.600
  • Support level 3: 109.320

United States will announce the May non-agricultural employment report. Higher data will indicate favorable to the US dollar, so it is positive for the USDJPY currency pair, and vice versa.

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