USDJPY - 9 December - touch trendline SELL NOW
USDJPY trend forecast December 09, 2024
The Japanese Yen (JPY) faces selling pressure after an earlier boost during the Asian session, driven by an upward revision to Japan's Q3 GDP figures. This, combined with a slight uptick in the US Dollar (USD), pushes the USD/JPY pair back above the 150.00 level. Uncertainty surrounding the Bank of Japan's (BoJ) likelihood of further rate hikes in December contributes to the JPY's relative weakness against the USD.
At the same time, expectations that the Federal Reserve (Fed) will reduce interest rates in December keep US Treasury bond yields subdued, preventing aggressive bearish moves on the JPY. Additionally, geopolitical tensions and concerns over US President-elect Donald Trump's proposed trade tariffs may help support the safe-haven JPY, limiting its downside. Investors may remain cautious, awaiting the US consumer inflation data this week, which could clarify the Fed's rate-cut outlook and provide fresh momentum for the USD/JPY pair.
M30 , Price forms trendline and resistance zone liquidity selling side
/// SELL USD/JPY : zone 150.500 - 150.700
SL: 151.000
TP: 40 - 80 - 120 pips (149.200)
Safe and profitable trading
The Japanese Yen (JPY) faces selling pressure after an earlier boost during the Asian session, driven by an upward revision to Japan's Q3 GDP figures. This, combined with a slight uptick in the US Dollar (USD), pushes the USD/JPY pair back above the 150.00 level. Uncertainty surrounding the Bank of Japan's (BoJ) likelihood of further rate hikes in December contributes to the JPY's relative weakness against the USD.
At the same time, expectations that the Federal Reserve (Fed) will reduce interest rates in December keep US Treasury bond yields subdued, preventing aggressive bearish moves on the JPY. Additionally, geopolitical tensions and concerns over US President-elect Donald Trump's proposed trade tariffs may help support the safe-haven JPY, limiting its downside. Investors may remain cautious, awaiting the US consumer inflation data this week, which could clarify the Fed's rate-cut outlook and provide fresh momentum for the USD/JPY pair.
M30 , Price forms trendline and resistance zone liquidity selling side
/// SELL USD/JPY : zone 150.500 - 150.700
SL: 151.000
TP: 40 - 80 - 120 pips (149.200)
Safe and profitable trading
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