Increase in U.S. Rate Expectations Weighs on Japanese Yen
Idanna Appio, a portfolio manager at First Eagle Investments, highlights the challenges facing the Japanese yen due to increasing U.S. interest rates and rising oil prices, which are negatively impacting Japan's trade terms. Verbal intervention by Japanese authorities is unlikely to have a significant effect as the yen's decline seems to be driven by the overall strength of the dollar against various currencies, rather than specific weaknesses in the yen. While no immediate policy changes are anticipated at the upcoming Bank of Japan meeting, attention will be on the BOJ's inflation forecasts, especially in light of the yen's depreciation, escalating oil prices, and robust wage growth. The USD/JPY pair experiences a slight uptick, reaching 154.738.
Technically: The price still running at the bullish trend, to get 155.770 Currently, a 4h candle close above 154.700 would signify stabilization at this level, heralding the onset of a bullish trend with an immediate target of 155.77, thereby positioning the asset within the bullish zone. retest scenario will be available till 153.07 by closing the 4h candle under 154.288
Conversely, a reversal and subsequent stabilization below the pivot level of 153.21 would indicate a bearish inclination, targeting a descent to 151.80. Breaching this threshold would be imperative for the continuation of the bearish trajectory, delineating a critical juncture for future price direction.
The expected trading range is between support 153.07 and Resistance 155.77
Tendency: it looks uptrend
PREVIOUS IDEA:
交易开始
The price still running at the bullish trend, to get 155.770 Currently, a 4h candle close above 154.700 would signify stabilization at this level, heralding the onset of a bullish trend with an immediate target of 155.77, thereby positioning the asset within the bullish zone. retest scenario will be available till 153.07 by closing the 4h candle under 154.288
Conversely, a reversal and subsequent stabilization below the pivot level of 153.21 would indicate a bearish inclination, targeting a descent to 151.80. Breaching this threshold would be imperative for the continuation of the bearish trajectory, delineating a critical juncture for future price direction.