USDJPY: Repeat price behavior
Dear friend, what do you think about the next trend of USDJPY for this major currency pair?
Today, USDJPY continues to trade steadily around the 149.00 level, attracting some buyers amidst geopolitical risks and concerns about intervention. Faint hopes of upcoming changes in the BoJ's policy stance may limit further gains. The story of higher interest rates in the longer term by the Fed strengthens the USD and supports USD/JPY.
With the potential for a DOW formation on the chart, it is likely that USDJPY will experience significant volatility, causing price action around the 148.97 and 148.37 levels, which also coincide with the 34 and 89 EMA zones. The price is expected to increase towards the Fibonacci target of 1.618, which is 154.05.
Our "buy on dips" strategy continues to be emphasized.
Today, USDJPY continues to trade steadily around the 149.00 level, attracting some buyers amidst geopolitical risks and concerns about intervention. Faint hopes of upcoming changes in the BoJ's policy stance may limit further gains. The story of higher interest rates in the longer term by the Fed strengthens the USD and supports USD/JPY.
With the potential for a DOW formation on the chart, it is likely that USDJPY will experience significant volatility, causing price action around the 148.97 and 148.37 levels, which also coincide with the 34 and 89 EMA zones. The price is expected to increase towards the Fibonacci target of 1.618, which is 154.05.
Our "buy on dips" strategy continues to be emphasized.
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