USD/JPY: Expected To Drop Towards Its Initial Support Level At Around 117.70
Looking at USDJPY Chart, we can see that USD had gained ground over JPY, and it is traded at around 118 whereas 118.45 was the highest rate of the past month.
Today if it can pass its resistance level at around 118.45 then it will rise towards new high levels otherwise it should fall towards its first support level at around 117.70.
(Click on image to enlarge)
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