USD/JPY: Expecting the testing of the pair’s support and resistance level
|USD/JPY
Looking at USDJPY’s chart, we can see that the Forex pair is traded around the rate of ¥135.95, which is close to its support level located at around ¥135.70. Today, we expect it to be traded at the short range between its support and resistance level, from ¥135.70 to ¥136.70, until today’s FOMC statement and FED’s interest rate decision which will be announced at 21:00 (GMT+3). After that, the direction of USD will be clearer, and it will either break through its resistance or support level, testing the right next one at either ¥137.80-138 or ¥133.80- 134.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.