Last Updated Date: 26 May 2022 @ 7:23 AM (UTC)
*Please note that all the dates are in GMT time zone
The dollar hovered near a one-month low on Thursday as minutes from the Federal Reserve's May meeting confirmed the potential for a pause in rate hikes after likely further increases in June and July.
The USDJPY market is short term bearish with the break creating potential wash to 126.25. Trade is poised for continuation selloffs. Minor corrections contained by 128.08 should bear flag a setup for selloffs. A close over 127.90 could spark retracements to 128.94 - 129.53.
Resistance 2 1.2778
Resistance 1 1.2750
Support 1 1.2704
Support 2 1.2676