USD/YEN Update – 11/09/2017 (11:20am) – by Arjun Lakhanpal

USD/YEN Update – 11/09/2017 (11:20am): USD/JPY started the week on a high note as the demand for the safe-haven JPY weakened on strengthening risk appetite. As of writing, the pair was trading at its fresh session low of 108.70, gaining 0.82% on the day. Some chart resistance expected at 109.00 in USDJPY and at 109.25 (20-DMA) ahead of 110.00 (50-DMA/psychological level) and 110.80 (100-DMA). On the downside, supports are located at 108.15 (daily low), 107.30 (Sep. 8 low) and 107.00 (psychological level).