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  • US Dollar To Yen Outlook: Sell USD/JPY At 149.60, Target 143.00 Say MUFG

    From exchangerates.org.uk

    According to analysts at MUFG; “The move in USD/JPY will ultimately be all about timing and on that basis we see more compelling reasons to suggest the timing for a bigger correction lower could be approaching.” It recommends selling the US Dollar to Yen (USD/JPY) exchange rate at 149.60 with a target of 143.00. MUFG has considered for some time that the dollar bull run is over and a cyclical high has been seen for the greenback. It adds; “We have a lot more confidence in that view now and see scope for a clearer move to the downside for the US dollar in 2024.” The dollar has been under further pressure on ... (full story)

USD/JPY RSI and MACD H1, H4, D1, W1 all are showing a bearish chart . Clear visible Curving, As Weekly chart also bearish, it looks this pair will hold bearish for long until W1 chart end.
Yup Bearish into Jan'24 End

Let's see how the most recent move-up will go

Seasonally JPY is weak into Dec but if the 2021-Current bull run continues then recent "bear" was just a correction!
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  • Posted: Nov 20, 2023 9:51am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 2  /  Views: 4,035