Price Action
As of the latest session, USD/JPY is trading at 160.51, showing a slight increase of 0.10% since the previous close at 160.35. The pair has registered a high of 160.83 and a low of 160.19 during the day. This slight upward movement comes after the US Consumer Price Index (CPI) data release, which has influenced market sentiment. The current price is hovering near a significant psychological level at 160.50, which has previously acted as both a support and resistance zone.
Key Support & Resistance
In the current market context, we can identify several crucial support and resistance levels:
- Support Levels: