Photo by jun rong loo on Unsplash
Looking at USDJPY Chart, we can see its rally from 114 to 115.4 range and reaching as high as 115.8. It managed to consolidate in the 115.4 range for a couple of days but being unable to keep surging led to a breakdown from the 115.2 support level. It found temporary support at 114.6 earlier today and it's currently last found trading at 114.644 and has the closest overhead resistance 115.2 price range.
Today we could expect an attempt to move to close to the 115.2 resistance level or consolidate at the current level.
If however, it does not manage to hold above 114.6 then a move towards the support of 114 could be expected.
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