It's a big week for both the U.S. Dollar and the Japanese Yen.
Last week started with a sell-off in USD/JPY following results of elections that came in over the weekend. I looked at support structure in the pair shortly after, and the 145.92 level came into play to hold the lows in early-Thursday trade and since then bulls have been going to work.
The pair is now nearing a big batch of resistance with the July high of 149.19 followed by the 200-day moving average and the 150.00 handle in the pair.
USD/JPY is key for larger themes of USD-strength and if we do hear the Powell talk down the prospect of a September cut, and the BoJ relax on rate hike talk, there could be bullish fundamental move to be priced-in on the pair this week. - js
Last week started with a sell-off in USD/JPY following results of elections that came in over the weekend. I looked at support structure in the pair shortly after, and the 145.92 level came into play to hold the lows in early-Thursday trade and since then bulls have been going to work.
The pair is now nearing a big batch of resistance with the July high of 149.19 followed by the 200-day moving average and the 150.00 handle in the pair.
USD/JPY is key for larger themes of USD-strength and if we do hear the Powell talk down the prospect of a September cut, and the BoJ relax on rate hike talk, there could be bullish fundamental move to be priced-in on the pair this week. - js
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.