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USDJPY: Continue moving around the threshold of 150.00
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Hello everyone, it's Alexia here again!
USDJPY has experienced a slight increase in price today and has returned to a yearly high of 150.150.
Review and update news with Alexia :
The potential for price increase in the USD/JPY pair seems to be limited due to speculation that the Japanese government will intervene in the foreign exchange market to counter the prolonged depreciation of the domestic currency.
Conversely, this ensures caution for traders looking to increase prices and prepares them for any meaningful price hikes during the day. In the absence of any relevant economic information relating to market movements from the United States, comments from Fed officials will play a crucial role in impacting the momentum of the USD and providing significant upward momentum for the main currency as a bullish trendline has formed on the 4-hour chart.
USDJPY has experienced a slight increase in price today and has returned to a yearly high of 150.150.
Review and update news with Alexia :
The potential for price increase in the USD/JPY pair seems to be limited due to speculation that the Japanese government will intervene in the foreign exchange market to counter the prolonged depreciation of the domestic currency.
Conversely, this ensures caution for traders looking to increase prices and prepares them for any meaningful price hikes during the day. In the absence of any relevant economic information relating to market movements from the United States, comments from Fed officials will play a crucial role in impacting the momentum of the USD and providing significant upward momentum for the main currency as a bullish trendline has formed on the 4-hour chart.
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