USD/JPY is at risk of falling deeper in the near future
Today, the USDJPY experienced a slight decrease to 145.89 before rising again and trading around the price level of 147.300.
In the coming period, it is expected that the USDJPY will fluctuate between approximately 146.00 and 147.30. Although there is a possibility of further increase in USDJPY today, reaching the level of 147.80 may prove challenging. On the other hand, if USD breaks below 146.60 (with minor support at 146.85), it implies that the current mild upward pressure has gradually diminished.
In the coming period, it is expected that the USDJPY will fluctuate between approximately 146.00 and 147.30. Although there is a possibility of further increase in USDJPY today, reaching the level of 147.80 may prove challenging. On the other hand, if USD breaks below 146.60 (with minor support at 146.85), it implies that the current mild upward pressure has gradually diminished.
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The crucial US CPI report is scheduled for release later during the early North American session and will play a key role in influencing the Federal Reserve's (Fed) policy outlook.
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good luck everyone
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UJ is moving as indicated
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USD/JPY encountered new supply on Thursday and was pressured by a combination of factors. Bets that the BoJ will end its ultra-loose monetary policy will strengthen the JPY and put pressure on the pair. Uncertainty about the Fed's interest rate hike path spurred USD selling and contributed to the decline.
