Yen is still struggling by interest rate difference, USD/JPY out
WHAT'S Next FOR USD/JPY?
The Yen's struggle against the US Dollar continues this week, WHEN USDJPY settles above 143.00 and hits new highs for the third day in a row. After some sideways trading, traders are now continuing to push ahead with the upside towards recent highs of 143.9000, followed by potential targets at 144.00 and 145,050.
Last week, the Bank of Japan (BoJ) surprised the market by slightly adjusting its Yield Curve Control (ycc) policy. While this correction may have been relatively minor, it has kept market participants alert to the possibility of FOREX INTEREST should the Yen continue to weaken. Against this backdrop, the 50-day MA at 141.430 could provide immediate support.
The most important event to watch on the calendar is the US Consumer Price index (cpi) release tomorrow. A lower-than-anticipated CPI figure could put pressure on the USD/JPY pair, while a higher reading could refresh interest rates above 145,000. However, the potential for BoJ Intervention remains a concern for traders operating above this threshold.
The Yen's struggle against the US Dollar continues this week, WHEN USDJPY settles above 143.00 and hits new highs for the third day in a row. After some sideways trading, traders are now continuing to push ahead with the upside towards recent highs of 143.9000, followed by potential targets at 144.00 and 145,050.
Last week, the Bank of Japan (BoJ) surprised the market by slightly adjusting its Yield Curve Control (ycc) policy. While this correction may have been relatively minor, it has kept market participants alert to the possibility of FOREX INTEREST should the Yen continue to weaken. Against this backdrop, the 50-day MA at 141.430 could provide immediate support.
The most important event to watch on the calendar is the US Consumer Price index (cpi) release tomorrow. A lower-than-anticipated CPI figure could put pressure on the USD/JPY pair, while a higher reading could refresh interest rates above 145,000. However, the potential for BoJ Intervention remains a concern for traders operating above this threshold.
The price after the last high has retraced at 0.382 and can now make a new high.