USD/JPY is likely to breakout as the Fed might tight its policy Long

USD/JPYOANDA

Description

⋅ Feb 8, 2021 11:39 AM

+63 pips registered on the previous long position. The technical suggest that the breakout from the ascending channel is still highly possible. Moreover , the recent discussion on tightening the monetary policy by the American Central Bank (Fed) due to the updated inflation expectation (dailyfx.com/forex/fundamental/forecast/weekly/usd/2021/02/06/US-Dollar-Forecast-Climbing-Inflation-Expectations-May-Underpin-USD.html) give me more of a bullish vision here.

Comments

ProjectSyndicate

⋅ Feb 8, 2021 3:40 PM

well done, great technical summary for USDJPY today!