Dear friends, USDJPY continues to regain some momentum as it recovers the 152.00 level, but the overall and long-term trend remains upwards.
In the short term, UJ may still face pressure from the modest retreat of the USD.
Meanwhile, investors are still awaiting news that could have a significant impact on the market. Specifically, the US economic report on Thursday - including the final Q4 GDP print, regular weekly Initial Jobless Claims, Pending Home Sales figures, and revised University of Michigan Consumer Sentiment Index - could provide some momentum. Additionally, broader risk sentiment will contribute to short-term trading opportunities. However, the aforementioned fundamental context indicates that the least obstructed path for the USD/JPY pair is upwards, supporting further prospects for growth throughout the day.
It is expected that the price will continue to recover after the correction and reach the upper limit of the upward channel, while also testing the EMA 34.89.
In the short term, UJ may still face pressure from the modest retreat of the USD.
Meanwhile, investors are still awaiting news that could have a significant impact on the market. Specifically, the US economic report on Thursday - including the final Q4 GDP print, regular weekly Initial Jobless Claims, Pending Home Sales figures, and revised University of Michigan Consumer Sentiment Index - could provide some momentum. Additionally, broader risk sentiment will contribute to short-term trading opportunities. However, the aforementioned fundamental context indicates that the least obstructed path for the USD/JPY pair is upwards, supporting further prospects for growth throughout the day.
It is expected that the price will continue to recover after the correction and reach the upper limit of the upward channel, while also testing the EMA 34.89.
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