USD/JPY Outlook: Strong Support at 156.08, Targeting 159.00
The USD continues to maintain its strength as the Fed keeps interest rates high to control inflation. With expectations that the Fed will maintain this policy for at least the next few months, the USD will continue to have an advantage in competition with other currencies, including the JPY. This supports the USD/JPY in maintaining its upward trend.
Looking at the technical chart, with an important support level at 156.08, this will provide momentum for the pair to continue growing and possibly break through the nearest resistance level at 157.69. Once this level is breached, the pair is likely to experience a strong upward movement, with the next target at 159.00.
Traders need to closely monitor the signals from the Fed and BOJ in their upcoming policy meetings, and use key support and resistance levels to make informed trading decisions.
Looking at the technical chart, with an important support level at 156.08, this will provide momentum for the pair to continue growing and possibly break through the nearest resistance level at 157.69. Once this level is breached, the pair is likely to experience a strong upward movement, with the next target at 159.00.
Traders need to closely monitor the signals from the Fed and BOJ in their upcoming policy meetings, and use key support and resistance levels to make informed trading decisions.
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.