USD JPY continues to return to the journey to increase prices
Updated
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Last week, USDJPY slipped away from its upward trend and started moving sideways. However, there is still no significant threat to the price increase of USDJPY that could cause a reversal. This is evident as the currency pair has begun to recover, currently trading at 149.445 and gradually approaching a strong resistance level at 150.000. It is expected to be a significant breakthrough if UJ can surpass this resistance level.
Last week, USDJPY slipped away from its upward trend and started moving sideways. However, there is still no significant threat to the price increase of USDJPY that could cause a reversal. This is evident as the currency pair has begun to recover, currently trading at 149.445 and gradually approaching a strong resistance level at 150.000. It is expected to be a significant breakthrough if UJ can surpass this resistance level.
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Comment
Multiple Fed officials have indicated that the central bank could refrain from implementing a rate hike in November due to the surge in bond yields, which has led to tightened financial conditions. This development seems to act as a headwind for the USD/JPY pair.
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