Looking at USDJPY’s chart, we can see that after the CPI’s announcement, USD has gained back its momentum and the fx pair has sharply increased from around 142 to around 145 whereas now it is correcting towards its support level at around 143.20. If today it will manage to hold the rate above that support level, then we could see it retesting its resistance level at around 145 otherwise it should further decline towards its next support level at around 142.70.
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