Near-term direction could come down to how overall market sentiment develops over the coming.
While the Yen has benefited from the recent safe-haven flows, the pair seems well supported above 128 for the time being. It wouldn't be surprising to see buyers accumulate around this level as risk sentiment recovers, while the continued policy divergence between the two central banks could help USD/JPY sustain a move to new highs.
Of course, JPY could look to extend its gains against the greenback if sentiment remains fragile, so it is important to remember that all trading carries risk.
While the Yen has benefited from the recent safe-haven flows, the pair seems well supported above 128 for the time being. It wouldn't be surprising to see buyers accumulate around this level as risk sentiment recovers, while the continued policy divergence between the two central banks could help USD/JPY sustain a move to new highs.
Of course, JPY could look to extend its gains against the greenback if sentiment remains fragile, so it is important to remember that all trading carries risk.
. As I was saying earlier, the market kept going down into the close and usdjpy flattened out instead of following it down. Should of got out.
