USDJPY price analysis: The reduction can attract new buyers
Hello everyone! USD/JPY continues to trade at a high of 151.08, maintaining a positive trend and a three-day winning streak. The market seems calm, and the different policy outlooks of the BoJ-Fed may continue to act as favorable drivers for the major currency pair. The technical setup supports the prospect of a rebound, testing the YTD high again.
On the chart, the resistance level has been broken. Today, USD/JPY could extend its downward momentum, potentially pushing the pair to a lower level around 149.00 and ultimately targeting 150.50 as the lowest point. Sustaining this upward momentum could propel the currency pair towards the upper boundary of the price channel at 152.50.
What are your thoughts on this issue? Do you agree with me?
On the chart, the resistance level has been broken. Today, USD/JPY could extend its downward momentum, potentially pushing the pair to a lower level around 149.00 and ultimately targeting 150.50 as the lowest point. Sustaining this upward momentum could propel the currency pair towards the upper boundary of the price channel at 152.50.
What are your thoughts on this issue? Do you agree with me?
Trade active
Comment:
The US dollar index (DXY) recovered after consolidating nearly 105.50 in the context of expectation that the Fed Powell could open the door to tighten the policy.
Comment:
Next week, the USD/JPY pair will receive some signals on US retail sales and inflation data in the United States (USA). In Japan, the calendar will announce GDP, industrial production and trade balance.
