USD/JPY: Will it break out of the current range?
A new day has begun. Have you all updated the news on the USD/JPY pair yet? Let’s catch up together!
The recovery of the Japanese Yen (JPY) remains quite fragile due to concerns about the Bank of Japan’s (BoJ) monetary policy and the global risk environment. On the other hand, the USD continues to be supported by expectations that the Fed will maintain high interest rates in the near future. This makes the USD more attractive compared to the JPY, limiting the upward momentum of the USD/JPY pair.
Looking at the technical chart, the USD/JPY pair is fluctuating around 149.63 in a downtrend. Although there is support at the 141.86 level, the pair has not been able to sustain its upward momentum. However, investors must be more cautious with their decisions, especially as the market is being influenced by multiple uncertainties.
What are your thoughts on this pair? Leave a comment and let me know!
The recovery of the Japanese Yen (JPY) remains quite fragile due to concerns about the Bank of Japan’s (BoJ) monetary policy and the global risk environment. On the other hand, the USD continues to be supported by expectations that the Fed will maintain high interest rates in the near future. This makes the USD more attractive compared to the JPY, limiting the upward momentum of the USD/JPY pair.
Looking at the technical chart, the USD/JPY pair is fluctuating around 149.63 in a downtrend. Although there is support at the 141.86 level, the pair has not been able to sustain its upward momentum. However, investors must be more cautious with their decisions, especially as the market is being influenced by multiple uncertainties.
What are your thoughts on this pair? Leave a comment and let me know!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.