Dear traders!
The USD/JPY pair extended its winning streak into its fourth trading session on Tuesday. The asset strengthened as the US Dollar appeared to stabilize as Federal Reserve (Fed) officials confirmed maintaining interest rates at current levels for longer.
This week, the USD/JPY pair will follow the Federal Open Market Committee (FOMC) May meeting minutes and Japan's national Consumer Price Index (CPI) data for April, which will be released. on Wednesday and Friday this will determine our new outlook.
The 4-hour chart shows that USDJPY broke out of a triangle pattern and reached 156.54. It is currently trading at 154.30 with immediate support at 156.00 supported by the 34 EMA which is showing signs of rebounding after the correction. The fact that buyers accept strong buying pressure will then help this pair. This pair will help buyers limit losses in the medium and long term because the overall outlook for this pair is still negative according to the assessment market maker price.
The USD/JPY pair extended its winning streak into its fourth trading session on Tuesday. The asset strengthened as the US Dollar appeared to stabilize as Federal Reserve (Fed) officials confirmed maintaining interest rates at current levels for longer.
This week, the USD/JPY pair will follow the Federal Open Market Committee (FOMC) May meeting minutes and Japan's national Consumer Price Index (CPI) data for April, which will be released. on Wednesday and Friday this will determine our new outlook.
The 4-hour chart shows that USDJPY broke out of a triangle pattern and reached 156.54. It is currently trading at 154.30 with immediate support at 156.00 supported by the 34 EMA which is showing signs of rebounding after the correction. The fact that buyers accept strong buying pressure will then help this pair. This pair will help buyers limit losses in the medium and long term because the overall outlook for this pair is still negative according to the assessment market maker price.
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