115 remains a key level for USD/JPY traders

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Matt Simpson financial analyst
By : ,  Market Analyst

In today's video we look at the USD/JPY spot chart after it printed a bearish hammer at a key resistance level. Whilst yield differentials suggest it could still break higher we need the bearish sentiment to ease off, as it could remove a pillar of support for the Japanese yen and allow USD/JPY to track higher. Therefore we highlight key levels we think that could be the difference between a deeper correction from its highs or continuation above 115, if breached. 

 

 

Everything you should know about the Japanese Yen

 

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