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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 after yesterday’s announcement on US’s CPI, USD lost power and the FX pair fell from the rate of around ¥135.40 to below the support level of ¥134, and today it is upwardly reacting, breaking through that level, which led to the current rate of around ¥134.50. Today, if it holds above the support level of around ¥134.25, we should expect it to further rise towards the resistance level at around ¥135.20 and if it passes it then it could re-test the high rate of the week at around ¥135.50.

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