USDJPY managed to resume drop movement as market anticipate rate hike from BOJ next week Market facing support around 152.00-15 zone while resistance at 155.00-20 which may creat trading zone here Below 152.00 more drop toward 149.40 is likely Above 155.20 more advance may hit the market with resistance at 157.40 SUPPORT RESISTANCE LEVEL1 […]
USD/JPY – Ready for the bounce? [Video]
USD/JPY Price Forecast: Likely trade sideways ahead of Fed-BoJ policy meetings
USD/JPY has seen a huge unwind over the past couple of weeks, and we've just found out that a large chunk of that move may have been driven by a significant clear-out of short-yen positioning among speculators, according to the latest data released by the CFTC on Friday.
The BOJ is expected to raise interest rates to 1.25%, while Ueda's policy guidance could decide whether USD/JPY extends its decline toward 150.
Central bank decisions will dominate the calendar, but with both hikes largely expected, energy prices, US yields and lingeri.
If you look at anything but the chart it really seems like the past week is one where the US Dollar should've broken out in a very big way. Sure, the ECB did hike rates by 25 basis points but the initial reaction to that announcement showed how well it was already priced-in, to the degree that ECB ‘sources' needed to come out after the fact and highlight the possibility of another hike to get bulls back on the bid.
U.S. dollar is swinging between gains and losses as traders prepare for a potential rate hike from the Fed.
USDJPY managed to resume the drop as traders anticipate a rate hike from the Bank of Japan next week. The market faces support around the 152.00-15 zone while resistance at 155.00-20 could lead to a trading zone here.
The Japanese yen has soared in the past few weeks, and is now hovering near its highest level since February this year. The USD/JPY pair has dropped to 154.17, down sharply from the year-to-date high of 163.96.
USD/JPY Price Forecast: US Dollar recovery, likely to be tested at 155.20
The US Dollar failed to remain stable above 160.00 and tumbled against the Japanese Yen. USD/JPY dipped below 158.00 and 156.20 to enter a bearish zone.