USDJPY tests support, uptrend continues
Dear readers, USD/JPY is currently trading near the 150.00 level, extending its upward momentum after the Bank of Japan (BoJ) decided not to make any adjustments to its policy settings but instead changed the language surrounding its Yield Curve Control (YCC) framework. The BoJ's policy outcome has disappointed hawkish individuals, putting pressure on the Japanese Yen.
At the time of writing, the price is trading at 150.12 with expectations that this upward trend will reach levels of 150.80 and 151.00, which are the upper limits of the gradual price channel. Hawkish comments from Federal Reserve officials could potentially limit the weakness of the Greenback and serve as a favorable catalyst for the USD/JPY pair, resulting in an increase in currency value! What are your thoughts on this matter?
At the time of writing, the price is trading at 150.12 with expectations that this upward trend will reach levels of 150.80 and 151.00, which are the upper limits of the gradual price channel. Hawkish comments from Federal Reserve officials could potentially limit the weakness of the Greenback and serve as a favorable catalyst for the USD/JPY pair, resulting in an increase in currency value! What are your thoughts on this matter?
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