As seen on our previous chart, the USDJPY pair managed to sustain trades below the resistance 161.70 and retreated towards 160.25.
As we see on the Intraday chart, if the market holds below the resistance of 161.70, another drop could hit the market to test the 159.75-95 support which in turn could activate another advance.
Below 159.75, more of a drop toward 157.60-90 could hit the market.
Above 161.70, the market could activate a further advance toward 163.80.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 160.50 | 161.70 |
| LEVEL2 | 159.75 | 163.80 |
| LEVEL3 | 157.60-90 | 165.00 |
|
Join our responsible trading community - Open your Orbex account now! |
