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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 broke down its uptrend, and after hitting its support level at around ¥129, it upwardly reacted towards the current rate of ¥129.50. If this reaction continues, we should expect it to test its resistance level at around ¥130-130.20 and if it is able to break through it, then it could approach the level of ¥131.50 where a strong resistance should be expected.

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