USD/JPY: The US CPI will drive its direction
|USD/JPY
Looking at USDJPY’s chart, we can see that the FX pair is currently traded at around ¥132. Today if it holds the rate above the support level of around ¥131.50, then we could expect to test its resistance level at around ¥132.60.
Otherwise, it should further drop towards its next support level at around ¥130.70. However, the major factor that will drive the direction of the forex pair will be the US CPI which is scheduled to be announced at 15:30 (GMT+2).
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