USDJPY Ranging 142-144 Ahead of U.S. CPI
On the 3-hour timeframe of the USDJPY pair, the price is moving within a range between the support level of 142 and the resistance level near 144.
Closest support: 142. This is a key support level, and if it breaks, a sharp decline to lower levels could follow.
Key resistance: 144. If the price surpasses this level, a short-term bullish trend may be triggered.
Traders can sell when the price touches the 143 resistance or breaks the 142 support, targeting the lower support levels of 142.500 and 141.800.
Investors are awaiting tomorrow's U.S. CPI report. A higher-than-expected CPI could boost the USD, aiding USDJPY recovery, while a lower CPI would pressure the USD, causing further declines in USDJPY.
Closest support: 142. This is a key support level, and if it breaks, a sharp decline to lower levels could follow.
Key resistance: 144. If the price surpasses this level, a short-term bullish trend may be triggered.
Traders can sell when the price touches the 143 resistance or breaks the 142 support, targeting the lower support levels of 142.500 and 141.800.
Investors are awaiting tomorrow's U.S. CPI report. A higher-than-expected CPI could boost the USD, aiding USDJPY recovery, while a lower CPI would pressure the USD, causing further declines in USDJPY.
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