USDJPY: Thoughts and Analysis Today's focus: USDJPY
Pattern – Ascending Triangle Break (BoJ Intervention?)
Support – 149.28 - 148.43
Resistance – 149.90 - 150.16
Hi, and thanks for checking out today's update. Today, we are looking at the USDJPY on the daily chart.
Speculation continues as to whether we will see intervention from the BoJ as the USDJPY continues to trade above 150. Currently, the breakout of an ascending triangle pattern yesterday continues to confirm today as buyers continue the run above 149.90 resistance and 150.
Pricewise, things look firm on the buyer side, but will we see any surprises today with BoJ intervention? Last time price was above 150, we saw a 1.75% decline. Could another round be on the cards if prices contnue to push higher?
Good trading.
