Hey everyone, today the USDJPY is hitting new heights, currently cruising around 153.80 and marking a daily increase of 0.38%.
This currency pair has been on a tear since a solid consolidation last Friday. With no historical price levels left to target, USDJPY is charting its own course, but we can still ride the market trend.
The outlook remains bullish as it continues to trend above the EMA 34 and 89 lines. Meanwhile, the U.S. Dollar (USD) is strengthening, reaching highs not seen since November, amid expectations that the Federal Reserve (Fed) might delay interest rate cuts. This suggests that the significant interest rate differential between the U.S. and Japan could persist, providing further momentum for USD/JPY to keep climbing.
This currency pair has been on a tear since a solid consolidation last Friday. With no historical price levels left to target, USDJPY is charting its own course, but we can still ride the market trend.
The outlook remains bullish as it continues to trend above the EMA 34 and 89 lines. Meanwhile, the U.S. Dollar (USD) is strengthening, reaching highs not seen since November, amid expectations that the Federal Reserve (Fed) might delay interest rate cuts. This suggests that the significant interest rate differential between the U.S. and Japan could persist, providing further momentum for USD/JPY to keep climbing.
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