Hello dear friends.
As predicted by Karina, the upward momentum of UJ has not diminished, and this currency pair has already traded at a yearly high of 150.40 today.
The USD/JPY pair is showing strength due to improved yields on US Treasury bonds, supplemented by risk aversion stemming from political instability. The statement by Israeli Prime Minister Benjamin Netanyahu about preparing for a ground attack in Gaza.
On the chart analysis: After breaking the sideways trend last week, UJ will continue to rise, but it needs to retest the previous breakout level to officially establish the upward momentum. Furthermore, signals from the EMA line on the 12-hour chart continue to support this price increase.
As predicted by Karina, the upward momentum of UJ has not diminished, and this currency pair has already traded at a yearly high of 150.40 today.
The USD/JPY pair is showing strength due to improved yields on US Treasury bonds, supplemented by risk aversion stemming from political instability. The statement by Israeli Prime Minister Benjamin Netanyahu about preparing for a ground attack in Gaza.
On the chart analysis: After breaking the sideways trend last week, UJ will continue to rise, but it needs to retest the previous breakout level to officially establish the upward momentum. Furthermore, signals from the EMA line on the 12-hour chart continue to support this price increase.
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The yield on the 10-year Japanese Government Bond (JGB) also rises again to trade at 0.885% on Thursday. This is closer to the Bank of Japan’s Yield Curve Control (YCC) threshold of 1.0%, which if touched will likely lead to the BoJ implementing further easing. This will probably have a negative impact on the Yen but be bullish for USD/JPY.
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