USDJPY: Extending the upward momentum above the trend channel
Hello everyone, this is the new strategy I'm discussing for USDJPY!
It can be seen that USDJPY has undergone significant fluctuations yesterday, with prices surpassing 149.00 and remaining stable at this level. It is currently trading at a new high of 150.25, after reaching 140.50, marking a 0.75% increase for the day. So, what are the reasons and factors driving this currency pair?
Currently, assets are surging as market expectations for the Bank of Japan (BoJ) postponing its plan to exit negative interest rates and removing yield curve control (YCC) intensify.
With the potential to create a DOW from the chart, it is expected that this currency pair will retest the Fibonacci levels of 0.168 or 0.5 before further increasing towards the target of touching the ascending channel at 153.00.
It can be seen that USDJPY has undergone significant fluctuations yesterday, with prices surpassing 149.00 and remaining stable at this level. It is currently trading at a new high of 150.25, after reaching 140.50, marking a 0.75% increase for the day. So, what are the reasons and factors driving this currency pair?
Currently, assets are surging as market expectations for the Bank of Japan (BoJ) postponing its plan to exit negative interest rates and removing yield curve control (YCC) intensify.
With the potential to create a DOW from the chart, it is expected that this currency pair will retest the Fibonacci levels of 0.168 or 0.5 before further increasing towards the target of touching the ascending channel at 153.00.
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