The USDJPY fell about -3.2% last week as US yields moved to the downside helping to send the US dollar lower in its wake. the low price last week extended to 1.4945. The low price in early trading this week just reached 149.46 and bounced. The price is back above the 150.00 level but there is key resistance looming at the broken 38.2% retracement at 150.182. Just above that is a swing level at 150.329.
That area will be close resistance for the pair.
This article was written by Greg Michalowski at www.forexlive.com.
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