Analyzing USDJPY today, what should you keep in mind?

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Hello dear friends! What do you think about USDJPY today?

Currently, in the UJ market, it continues to trade below 148.00 and reached a trading level of 147.828. It can be seen that UJ is still trying to find a way out of this price range. However, this currency pair still lacks significant momentum as the market quietly awaits the upcoming interest rate decision by the Fed.

The main trend of UJ today remains sideways and within an upward wave. The main resistance level is at 148.00, while support can be found at 147.00 and 146.18.

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good luck

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From a technical perspective, sustained strength and acceptance above the 148.00 round-figure mark could be seen as a fresh trigger for bullish traders

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UJ has continued to be bullish as we would expect on the outlook to trade at 148.33

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A convincing break below the latter might prompt some technical selling and drag the USD/JPY pair back towards the 147.00 round figure. Spot prices might then slide to the 146.50 horizontal support, which if broken will expose last week's swing low or sub-146.00 levels.

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The USD hangs high with the DXY index around 105 points as Fed officials still have a hawkish tone.

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From a technical perspective, sustained strength and acceptance above the 148.00 round-figure mark could be seen as a fresh trigger for bullish traders