Currently, USD/JPY is trading at 107.86. The pair started a sideways trend on 15 April and now consolidating in the resistance and support wedges. If the price breaks its support level at 106.98, then it may touch its next support level at 105.61. If the price breaks the resistance level at 108.08, then it may touch its next resistance level at 109.20.
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Rishikesh Lilawat
Do follow us for future Forex updates.
Thank you,
Rishikesh Lilawat