USD/JPY: The next major technical resistance after the 151.95-152.00 zone is not before 160.00 – BBH
USD/JPY rallied briefly to a fresh high at 151.97. Economists at BBH analyze the pair’s outlook.
It is only a matter of time before USD/JPY breaks higher
Japan’s Finance Minister Shunichi Suzuki warned again ‘we are watching market moves with a high sense of urgency…We will take bold measures against excessive moves without ruling out any options’. The BoJ last officially intervened to stem JPY weakness between September and October 2022.
In our view, it’s only a matter of time before USD/JPY breaks higher because we anticipate a gradual BoJ tightening process and a more muted than currently priced-in Fed easing cycle.
The next major technical resistance for USD/JPY after the 151.95-152.00 zone is not before 160.00 (April 1990 high).
Reprinted from FXStreet,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.