USD/JPY Discussion

With the results of the Federal Open Market Committee (FOMC) meeting five hours later and the exchange with Israel continuing after the ceasefire, the value of the dollar is likely to remain strong.

Inside day.

usd/jpy up 68pips so far. was up 100 an hour or so ago

On Friday, the USDJPY price action on the daily time frame retested the 159.240 intra-day horizontal resistance. Recent technical prints show that the price action is tackling the 160.150 long-term horizontal resistance area (red). And we may see further bullish price action to target the 160.150 area during the week.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Agreed, soon I believe we will see DXY going Bullish as long as global events still align, finally swept HTF Lows too.

With the wholesale price index release two hours away and the end of the war with Iran still a long way off, the dollar will likely remain strong for some time.

5' --- Added long here, NOW ...

Target hit

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The USDJPY price is near the support level of 158.67, which has once again prevented the price from falling. I'm considering buying from this level, targeting the resistance level of 159.35.