USDJPY: Continuing to set new records!
The USD/JPY has surged to its highest level in decades, reaching 154.00 during European trading on Monday. The Japanese Yen continues to weaken amid uncertainty about future interest rate hikes by the Bank of Japan (BoJ). However, concerns about potential interventions and geopolitical tensions could impact the Yen, a traditional safe haven asset.
On the technical chart, the price shows strong upward momentum after a period of consolidation, moving steadily along the EMA 34 and 89 lines. The prospect of further price increases remains a top priority for this currency pair. The recent highs around the 153.25-153.30 area now serve as a strong support level, laying the groundwork for USD/JPY to potentially retest the 154.00 mark and potentially climb even higher.
On the technical chart, the price shows strong upward momentum after a period of consolidation, moving steadily along the EMA 34 and 89 lines. The prospect of further price increases remains a top priority for this currency pair. The recent highs around the 153.25-153.30 area now serve as a strong support level, laying the groundwork for USD/JPY to potentially retest the 154.00 mark and potentially climb even higher.
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