The USDJPY trades along the 133 support level and could see further downside as the DXY continues to weaken.
However with the continual divergence in monetary policy between the US Federal Reserve and the BoJ, a rebound to the upside is likely to always be on the cards.
If the USDJPY breaks strongly below 133 (and more crucially below 132.70) the price could trade down to 132.
Looking for a possible test and rebound from the 132 round number support level
However with the continual divergence in monetary policy between the US Federal Reserve and the BoJ, a rebound to the upside is likely to always be on the cards.
If the USDJPY breaks strongly below 133 (and more crucially below 132.70) the price could trade down to 132.
Looking for a possible test and rebound from the 132 round number support level
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