The USDJPY pair corrected as prices managed to test the uptrend support line around the 154.50 zone, as seen on the chart.
The market managed to rebound today to print a price of 157.18.
Intraday levels show the first support at around 156.40, whereas if prices hold above this area, a further advance could move towards 158.00 and higher.
Below 156.40, more of a drop could hit the market with the second support around the 154.50-155.00 zone.
Below 154.50, more of a drop toward the 152.50 – 153.00 area could happen.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 156.40 | 157.20 |
| LEVEL2 | 155.10 | 158.00 |
| LEVEL3 | 154.50 | 160.00 |
|
Join our responsible trading community - Open your Orbex account now! |