Image Source: Pixabay
 

Spotlight on USDJPY. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.
 

USDJPY

Looking at USDJPY’s chart, we can see that the FX pair is dropped to the current rate of around ¥128.65 mainly due to Powel’s last night speech. Today we could expect the dollar to get weaker and test the support level at around ¥128.30, and it is able to hold above that level, then we might expect it to climb toward its resistance level of around ¥129-129.30. 

More By This Author:

Daily Technical Analysis Of EURUSD - Wednesday, Feb. 1
Intraday Technical Analysis Of Meta Platforms Inc.
Daily Technical Analysis Of GBPUSD - Tuesday, Jan. 31