Daily Technical Analysis Of USDJPY - Tuesday, May 16

By AAATrade of aaatrade.com

Tuesday, May 16, 2023 9:40 AM EST

Yen, Money, Wealth, Japanese Yen

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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 is traded 22 pips away from its resistance level at around ¥135.98. Today, if it fails to pass the resistance level which is located at the rate of around ¥136.20, we should expect it to fall towards its support level at around ¥134.60 otherwise it could approach the next resistance level at around ¥137.60.

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AAATrade's Daily Technical Analysis of USDJPY - 16/05/2023

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