Looking at USDJPY’s chart, we can see that the FX pair is on a downtrend, dropping from around ¥137.85 to the current rate of around ¥133.50. Today, we do not expect it to rise above the level of ¥134 but this will might change at 15:30 when the CPI will be announced, and it will play a major role on the decision of the FED’s March interest rate hike.
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