Currently, USD/JPY is trading at 107.24. The pair started a new up trend on 7th May after breaking resistance level and now the price is about to break the support level at 107.20. If the price breaks the support level at 107.20 then it may start a new down trend. The first target will be at 106.87 and second target will be at 106.53.
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Thank you,
Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
