USD/JPY Outlook (11th January 2019)

• Japanese Bank Holiday (National Foundation Day)
  

Price Movement
Since last Friday, USD/JPY has been moving within a 25pips range.

Trend
Overall, USD/JPY is trending upwards.

Macro Background
No major economic data release.

Important Issue
As Japanese banks will be closed in observance of National Foundation Day, expect lower trading volume and volatility in USD/JPY.

Technical
USD/JPY is currently hovering above the support level of 109.744.

Price Levels
Current Price: 109.827
Next Resistance: 111.318
Next Support: 109.744