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USDJPY's sideways trading might end abruptly
USDJPY continues to trade sideways, hovering around the 146.65-147.71 area for the fifth consecutive session. The bears are holding most of the gains of the sizeable correction from the early July high of 161.94, but have failed to take advantage of USD’s recent underperformance. With traders digesting the overnight news of the Japanese PM Kichida’s resignation, the focus is gradually turning to today’s US CPI report. This data could play a key role in provoking a dovish shift from the Fed at the imminent Jackson Hole Symposium and thus confirm expectations for a rate cut in September. In the meantime, the ... (full story)
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- Posted: Aug 14, 2024 6:54am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,295
