USDJPY has bullish technical conditions

The latest economic data suggests the Federal Reserve could cut interest rates again next month, but a larger cut is being underestimated.
Therefore, US bond yields remain stable and the wide spread between Japanese government bond yields and US bond yields continues to support the US Dollar.


USDJPY recovers, although USD loses support from interest rates


On the daily chart, USDJPY The uptrend is noticed by the price channel and the nearest support level at 148.113 of the 0.382% Fibonacci retracement.
Temporarily, USD/JPY's upside momentum is limited by the upper channel edge, once USD/JPY breaks above the channel it will continue to trend upward towards the 150.739 levels in the short term, more than 151,866.
Even if the 0.382% Fibonacci level is not enough to support USD/JPY in the short term, it still has other support slightly lower at 147.113 – 146.424.

As long as USD/JPY remains above EMA21 and within price channel, it still has a bullish technical outlook with notable technical points listed below.
Support: 148.113 – 147.112 – 146.424
Resistance: 149,364 – 150,739 – 151,866
コメント
USD/JPY eased slightly below 149 following BoJ official Adachi's more hawkish comments
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USDJPY moves sideways on positive conditions
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The threat of Japanese rhetoric increases as USD/JPY breaks above 150

"Threat of verbal intervention increases as USD/JPY breaks above 150." This certainly has something to do with today's trading session, with USD/JPY up more than 150 points since Monday's Asian hour low.
コメント
USD/JPY appears to have found balance at the 153 mark. Yesterday, it hit a high of 153.88 during the Asian session and fell to 152.41 after entering New York trading
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