Hello everyone, join Brian as we explore the market today.
Currently, the USD/JPY pair has risen to the 148.00 level after breaking out from the low of 147.47 in the early Asian trading hours on Thursday. At the time of writing, this currency pair is trading at 148.27, up 0.05% for the day.
It can be seen that this currency pair is still attempting to consolidate and maintain its upward momentum for several consecutive days. However, traders should still exercise caution as all attention is focused on the decision of the Bank of Japan (BoJ) meeting on Friday, which may lead to a decline in UJ before the event takes place.
Currently, the USD/JPY pair has risen to the 148.00 level after breaking out from the low of 147.47 in the early Asian trading hours on Thursday. At the time of writing, this currency pair is trading at 148.27, up 0.05% for the day.
It can be seen that this currency pair is still attempting to consolidate and maintain its upward momentum for several consecutive days. However, traders should still exercise caution as all attention is focused on the decision of the Bank of Japan (BoJ) meeting on Friday, which may lead to a decline in UJ before the event takes place.
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good luck.
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The US Dollar Index (DXY), which measures the Greenback's performance against six other major currencies, extends its gains and trades at a six-month high of around 105.50.
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UJ is worth moving as expected reaching the trading level at 147.80
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From a technical perspective, sustained strength and acceptance above the 148.00 round-figure mark could be seen as a fresh trigger for bullish traders
