USDJPY has two key levels in play. On the upside, the 155.00 level is reported to be a level that the BOJ does not want to see USDJPY exceed. It may just be the “market” talking, but there are rumors that the central bank doesn’t want the pair to rise above this level either. The central bank will meet at the end of the week.
The other level in play is the 100 hour MA. This level was tested on a number of bars during the US session and support buyers entered near this level on declines, increasing the significance of the levels. This level currently stands at 154.57.
Resistance there is 155.00. Support near 154.57. Traders can rely on their bookends, or buy or sell on a break above or below.
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