USDJPY: Continuing uptrend
The Japanese Yen benefited from the hawkish stance of the Bank of Japan on Tuesday, despite a lack of further action. The uncertain global political and economic landscape provides a safe haven for the JPY. Betting on an early interest rate cut by the Fed will support the USD and the USD/JPY pair.
My personal observation: The upward trend remains dominant, trading with the trend is always safe.
From an analytical perspective: EMA 34 and 89 continue to reinforce this, as indicated by Fibonacci.
I highly emphasize a profit target of 151.59 at this time, which is also a Fibonacci retracement level of 1.618.
My personal observation: The upward trend remains dominant, trading with the trend is always safe.
From an analytical perspective: EMA 34 and 89 continue to reinforce this, as indicated by Fibonacci.
I highly emphasize a profit target of 151.59 at this time, which is also a Fibonacci retracement level of 1.618.
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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.