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Japanese Yen Forecast: USD/JPY Nears Major Decision Point
Shortly after the weekly open sellers came in to defend the 150.00 handle on USD/JPY. And, at this point, the two-month-high in the pair is just 1.8 pips inside of that level, which has some important history in USD/JPY price action. That was the price that forced the MoF and in-turn the BoJ to spring to action in Q4 of 2022. At the time, the carry trade was in full bloom, and the Fed had just started to ramp down rate hikes from the 75 bp clips that had started in June. Inflation was still elevated, but there were early signs of moderation. Nonetheless the fear at the Ministry of Finance was that a bleeding JPY ... (full story)
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- Posted: Oct 16, 2024 4:20pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 4,881
