USDJPY breakout of key daily level

17 June 2021 | Updated: 17 June 2021

Key Support: 110.53 – 110.30
Key Resistance: 110.88 – 111.72

After the FOMC meeting yesterday and the Fed hinting 2 rate hikes by 2023 the USD jumped carrying with it the USDPY that broke with last week’s highs and the mid term ascending structure creating a new short term bullish structure.

Price is trapped right now inside of a previous range (May 31st) whilst the USD continues to rally. Price has also found support at the previous broken structure.

Our trigger is the breakout of today’s highs for a continuation towards our big key level on the daily

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