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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 being traded at around ¥135.50, sharply lower due to yesterday’s announcement about the CPI which shows cooler inflation and removed the fear of the aggressive interest rate hikes by the Fed. Today we might expect a correction towards the level of ¥136 but the FX pair is shifted to a downtrend with an intraday target for its next support level at around ¥134.

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