USDJPY turned around from its high level

2023年5月3日

USD/JPY first tried to fall back yesterday after the U.S. economic data was released. The data suppressed the US dollar, while some safe-haven funds entered the Japanese yen. The USDJPY turned around from its high level on March 8 and closed down for the first time in four days. It continued to fall in the Asia trading session. Potential, pay attention to the current consolidation near the 136 mark. During the day, it will focus on the Fed’s decision to see the hike rate journey. Suppose Fed’s hike rate continuously, the USDJPY would return to the 137 level and try to test the 138 mark. Technically, the USDJPY breaks the 135.03 support and may test 134.20 support.