Could USD/JPY move towards the 129.30 level?

AAATrade Team AAATrade

USD/JPY

Looking at USDJPY’s chart, we can see that the FX pair is dropped to the current rate of around ¥128.65 mainly due to Powel’s last night speech. Today we could expect the dollar to get weaker and test the support level at around ¥128.30, and it is able to hold above that level, then we might expect it to climb towards its resistance level of around ¥129-129.30.

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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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