USDJPY managed for the second time to test the resistance of 153.25 to push for a correction where the market printed a low around 151.52.
As we see from the Intraday chart, the market is still facing the chance for a trading zone between support 151.05-40 and resistance 154.00-20.
Above 154.20 a further advance toward 156.50-70 is likely.
Below 151.05 more of a drop towards the 149.35 support could hit the market.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 151.05-40 | 153.25 |
| LEVEL2 | 149.35 | 154.00-20 |
| LEVEL3 | 147.50 | 156.50-70 |
![Credit Card 160×600 [EN]](https://assets.iorbex.com/blog/wp-content/uploads/2023/06/13144507/Blog-Banner_EN-Banner_160X600X2.webp)
The range-bound price action for USD/JPY between 151.05-40 and 153.25 is quite interesting. It looks like a crucial moment for traders to watch for either a breakout above 154.20 or a deeper correction towards 149.35. Definitely a lot of room for movement in the next few sessions!