USD/JPY Price Forecast: Scope for further upside towards 160.50 improves amid triangle breakout
The pair managed again to hit another correction while still facing the support zone of 157.25-65, which could hold prices inside this trading zone toward resistances 160.20 or 161.95. Above 161.95 the market could enter a new uptrend wave with first target toward 163.80.
USD/JPY steadies ahead of Japan CPI and US PMIs
It was a rough first two weeks of Q2 for the US Dollar, which fast went from bullish breakout potential to oversold on the four-hour chart. This fed rallies in both EUR/USD and GBP/USD but, notably, USD/JPY held up fairly well and for the past few weeks has held within a range-bound formation as buyers have continued to show support around prior resistance.
USD/JPY steadies as Middle East tensions offset softer yields
I would not be surprised to see the FX markets will continue to see a lot of noisy moves, as headlines in the Middle East continue to move bond markets.
USD/JPY steadies above 159.00 with the US-Iran ceasefire into pressure
USD/JPY climbed to 159.36 mid-week, with the Japanese yen losing ground for a second consecutive day. The market is pricing in the Bank of Japan's policy outlook ahead of next week's meeting.
USD/JPY Price Forecast: Flirts with 100-hour EMA support, above 159.00 amid softer USD
USD/JPY climbs as Yen lags risk-on reaction to Iran deadline blink
USD/JPY climbs as fading US-Iran de-escalation hopes and strong US data support Dollar
The pair managed again to hit another correction while still facing the support zone of 157.25-65, which could hold prices inside this trading zone toward resistances 160.20 or 161.95. Above 161.95 the market could enter a new uptrend wave with first target toward 163.80.