The US dollar softened a bit in the early part of the Monday session, as the missiles in the Middle East have stopped, for the moment.
As we see from our previous chart, USDJPY managed to pass above the short-term resistance zone of 161.95 which shows a strong advance still ongoing. Prices fell toward 160.50-70 on the suspected intervention before bouncing back toward target 163.80 Market managed to print above 163.80 which may lead for farther advance later Traders should take […]
USD/JPY Price Forecast: Eases to 163.50 with the broader bullish trend intact
The Japanese yen weakened toward 164 against the U.S. dollar, its lowest level in around 40 years. Middle East tensions supported the dollar, while concerns about Japan's finances and the large gap between U.S. and Japanese interest rates continued to pressure the yen.
The bullish breakout flagged in last week's outlook played out exactly as anticipated, sending USD/JPY to fresh multi-decade highs. Whether the rally can extend further will likely be determined by a packed week headlined by policy decisions from the Federal Reserve and Bank of Japan, alongside key inflation, growth and labour market data from both economies.
The American currency is losing ground as demand for safe-haven assets declines.
As we see from our previous chart, USDJPY managed to pass above the short-term resistance zone of 161.95 which shows a strong advance still ongoing. Prices fell toward 160.50-70 on the suspected intervention before bouncing back toward target 163.80 Market managed to print above 163.80 which may lead for farther advance later Traders should take […]
USD/JPY soared to 163.81 on Friday, marking a new 40-year high. Repeated warnings of possible currency intervention have so far failed to halt the yen's decline amid a broad strengthening of the US dollar.
USD/JPY breaks records: Nothing slows the Yen's decline
USDJPY hits multi-month high The Japanese yen remains pressured after the pair broke to another fresh high. The bullish bias remains intact even though the pair has hit some resistance.
The US Dollar started a fresh increase from 162.65 against the Japanese Yen. USD/JPY cleared the key hurdle at 163.20 to enter a bullish zone.
The latest trading sessions continue to show weakness in the Japanese yen. This dynamic is reflected in USD/JPY, which has ga.