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USD/JPY extends retracement from 102.39 session highs

FXstreet.com (Chicago) – USD/JPY trades around the 102.20 zone after retracing from the 102.39 session highs earlier today. Maintaining the 6-month peaks, the pair is strong and long-term trends support the current bullish move.

USD/JPY Technical Levels

Price action reveals the pair maintains the rally’s performance around 6-month highs although bearish pressure is evidenced at the strong 102.37 resistance. Technically speaking, the pair is offered at 102.21 and oscillates between the supports aligned at 101.89 (November 25th highs), 101.15 (November 21st highs) ahead of 100.44 (November 12th highs) and the resistances set at 102.37 (November 27th highs), 102.79 (May 6th highs) …read more