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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 JPY has been gaining ground over USD in the past week and the FX pair is currently traded at the rate of $138.50. Yesterday’s print on US’s CPI, further weakened the USD, and the forex pair is struggling to stay above the level of $138. If it manages to hold it above that level, then we could expect it to rise towards the resistance level at around $139.50, otherwise it should further drop towards the next support level at around $137.50.

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