In the previous analysis, we accurately highlighted the pair’s decline toward the key 140 support level. After testing this support, the dollar has started to gain against the yen. With several key events lined up this week, the expectation that the Bank of Japan will maintain its interest rate policy could lead to yen weakness and support our bullish scenario. However, any resurgence in risk-off sentiment may reopen the door for a decline and reactivate the bearish outlook.
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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.