Wed, Mar 29, 2023 @ 16:49 GMT

USD/JPY Bounces Back

The Japanese yen recouped some losses after a drop in the January unemployment rate. A relentless rally shows that the US dollar’s recovery is still going strong. A brief pullback has met strong buying interests at the resistance-turned-support of 135.30. A subsequent break above 136.40 suggests that the bulls are still in the game and a close above 136.90 would seal the deal by flushing out the remaining bears. December’s high of 138.00 would be the next resistance. 136.00 is the closest support in case of further hesitation.

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