USD/JPY: Upside momentum gathers extra pace
Updated
Hello dear friends! Selena here.
In the 4-hour view, it was expected that USD would trade within the range of 147.50/148.10 yesterday. Selenadid not anticipate the increased volatility as USD fluctuated between 147.46 and 148.36 before closing at 148.33 (+0.32%). The upward momentum has increased, albeit not significantly. Today, USD may rise further, but it is unlikely to threaten the key resistance level at 149.00. To sustain the upward trend, USD needs to stay above 147.90 (with minor support at 148.10).
In the 4-hour view, it was expected that USD would trade within the range of 147.50/148.10 yesterday. Selenadid not anticipate the increased volatility as USD fluctuated between 147.46 and 148.36 before closing at 148.33 (+0.32%). The upward momentum has increased, albeit not significantly. Today, USD may rise further, but it is unlikely to threaten the key resistance level at 149.00. To sustain the upward trend, USD needs to stay above 147.90 (with minor support at 148.10).
Note
good luck everyone :DNote
The US Dollar Index (DXY), which measures the Greenback's performance against six other major currencies, extends its gains and trades at a six-month high of around 105.50.Note
The USD is still supported by loose monetary policies in many countries.Note
UJ fluctuated at the correct decrease level, the transaction continuedNote
The policymaker has emphasized that there is "no change to the way of the policy decision-making process," indicating that the BOJ continues to carefully analyze new data at each monetary policy meeting.Note
UJ has reached a peak of 148.43
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