The yen pair jumped the most in over a week the previous day as Treasury yields rallied across the board. However, mixed comments from US Federal Reserve (Fed) officials and anxiety over inflation, not to forget trade/political fears, seem to challenge the USD/JPY bulls of late. Bond yields struggle to keep recent rally as inflation-linked anxiety escalates, Fed’s Daly favor March rate hike. Covid conditions worsen in Japan, BOJ’s easy money policies doubted amid reflation fears.
In this pair, technical analysis shows a technical figure Triangle. The Triangle broke through the resistance line on 09/02/2022. USD/JPY is forming a bullish formation on a daily chart. If the price holds above this level, we will have a possible bullish price movement with a forecast for the next 10 days with a target of 116.47. According to the experts, your stop loss should be around 114.16 if you enter this position.
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In this pair, technical analysis shows a technical figure Triangle. The Triangle broke through the resistance line on 09/02/2022. USD/JPY is forming a bullish formation on a daily chart. If the price holds above this level, we will have a possible bullish price movement with a forecast for the next 10 days with a target of 116.47. According to the experts, your stop loss should be around 114.16 if you enter this position.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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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.
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.