USD/JPY Hits Decade High, Caution In Japan's Forex Intervention
USD/JPY is witnessing multi-decade high prices, closing at 155.00. Traders are becoming cautious amidst increasing risks due to Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the rise of USD/JPY.
From a technical perspective, this currency pair is trading above the Simple Moving Averages (SMA), indicating stability in the upward trend. However, the Relative Strength Index (RSI) is trading in overbought territory, suggesting the market may undergo a short-term correction before resuming its upward momentum.
From a technical perspective, this currency pair is trading above the Simple Moving Averages (SMA), indicating stability in the upward trend. However, the Relative Strength Index (RSI) is trading in overbought territory, suggesting the market may undergo a short-term correction before resuming its upward momentum.
