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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 rose as USD got stronger on Friday due to the announced lower unemployment rate and higher nonfarm payrolls; furthermore, Fed’s Powel touted disinflation last night, which can be translated to less aggressive rate hike policy and weaker USD. 

Currently, the forex pair is traded at around ¥131.16, and we could expect the rate to drop toward its support level at around ¥130.50 and if it is able to pass it, then it would be possible to approach its next support level at around ¥129.

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