The USD/JPY price lost significant gains by the end of the year, thanks to BoJ’s policy tweak. The daily chart shows multiple bearish crossovers. This shows a strong downtrend in play.
The price is currently supported by a critical level of 131.00. However, the level looks feeble against the price action. The seasonality factor for the pair in January is bearish.
Key levels for USD/JPY
Support1: 131.00
Support2: 130.25
Support3: 128.75
Resistance1: 132.20
Resistance2: 133.50
Resistance3: 135.00
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