USD/JPY: Expecting the testing of the pair’s support and resistance level

AAATrade Team AAATrade

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.

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AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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