USD/JPY is in a long, intermediate and short-term uptrend. The pair is reaching the “intervention zone” where the Japanese authorities previously intervened. As such, there is a growing risk of intervention occurring again and a correction evolving. It is now quite close to 160.32, the April 26 high – its highest level since 1986.
This can be seen as the long red candle that represents the last week in April. On Thursday, Japan’s top currency diplomat, Masato Kanda, warned, “The government will respond to excessive currency moves”, adding that, “There is no limit for forex intervention resources”. From a purely technical point of view the trend is bullish on all time frames and given the saying that “the trend is your friend” it is more likely than not to continue higher.
Source: Digital Coin News (digitalcoinnews.net)
Technical Analysis
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY Price Analysis: Steadies as Asian session begins, above 158.00The USD/JPY remains flat as Thursday’s Asian session begins, yet it printed minuscule gains of 0.15% on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/JPY Price Analysis: Advances steadily yet consolidates below 158.00The USD/JPY edges higher for the fourth straight day and registers modest gains of 0.08% after hitting a daily high above 158.00.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/JPY Price Analysis: Rises above 157.00 as US yields underpin the pairThe USD/JPY climbed for the second straight day, up 0.27% after hitting a daily low of 156.81, as US Treasury bond yields climbed six basis points on speculation that the Federal Reserve will keep interest rates unchanged.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/JPY Price Analysis: Trades close to seven-week high near 158.00The USD/JPY pair jumps to near 158.00 in Monday’s American session.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/JPY Price Analysis: Remains consolidated below 157.00The USD/JPY recovered some ground during the North American session yet is virtually unchanged, up by a minimal 0.08%, weighed by a fall in US Treasury bond yields.
Source: FXStreetNews - 🏆 14. / 72 Read more »
USD/JPY Price Analysis: Struggles at 157.00, drops and remains subduedThe USD/JPY retreats during the North American session yet is virtually unchanged as traders brace for Wednesday’s busy economic docket, which will feature May's US Consumer Price Index (CPI) data and the Federal Open Market Committee (FOMC) monetary policy decision.
Source: FXStreetNews - 🏆 14. / 72 Read more »