USD/ JPY Technical Analysis

The U.S. dollar edged lower last week, weakening especially against the Japanese yen as the market reassessed the Federal Reserve’s tightening path
The dollar sank to its lowest level versus the yen since mid-June below 132 yen, down more than 5%
If the FED doesn’t continue with aggressive policy and interest rate hikes it will put much less pressure on the Bank of Japan to buy bonds.
we’re starting to see some reversion to the mean.
The currency pair is extremely sensitive to changes in long-term US yields


Technical analysis:
short-term trend stays on the downside for 132 resistance turned and below 130-131.  
strong support is expected 126 +_ area. 


On the upside, a break of 136 will bring a positive outlook back to retest the last high and even a new high


extended outlook will stay bullish as long as 126 holds.


This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice

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