Currently, USD/JPY is trading at 109.01. Last week this pair started a new uptrend and now is moving towards its at 108.77. If it breaks the level of support at 108.77, it may enter into a downtrend and then the first target will be at 108.07.
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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.