USD/JPY Forecast: Imminent bullish breakout

upamfva · 20-05-2021 09:53:29

The USD/JPY pair peaked at 109.63 this Wednesday as higher US inflation sent government bond yields to one-month highs. The yield on the 10-year Treasury note reached 1.69%, just below the critical 1.70% level that spurred substantial dollar gains back in March. The pair trades near the mentioned high, despite Wall Street plummeted, as higher US inflation readings lifted concerns about a sooner than expected tighter monetary policy in the country.To get more news about WikiFX, you can visit wikifx.com official website.
Japan published the preliminary estimate of the March Leading Economic Index, which improved to 103.2 from 98.7 previously. The Coincident Index came in at 93.1 from 89.9 in February. Early on Thursday, the country will report the March Current Account and the April Eco Watchers Survey.
USD/JPY short-term technical outlook
The USD/JPY pair is trading in the 109.50 price zone, consolidating gains. In the 4-hour chart, the pair has advanced above all of its moving averages, which anyway lack directional strength. Technical indicators lost directional strength after reaching overbought readings but lack clear directional strength. The pair topped at 109.69 this month, with a break above the level favoring a bullish continuation.

vaporum · 14-07-2021 13:31:23

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vaporum · 18-09-2021 05:53:01

vaporum · 10-01-2022 09:14:14

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vaporum · 07-05-2022 04:26:35

vaporum · 26-12-2022 20:56:11

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RS2I - Forum

#1 20-05-2021 09:53:29

USD/JPY Forecast: Imminent bullish breakout

#2 14-07-2021 13:31:23

Re : USD/JPY Forecast: Imminent bullish breakout

#3 18-09-2021 05:53:01

Re : USD/JPY Forecast: Imminent bullish breakout

#4 10-01-2022 09:14:14

Re : USD/JPY Forecast: Imminent bullish breakout

#5 07-05-2022 04:26:35

Re : USD/JPY Forecast: Imminent bullish breakout

#6 26-12-2022 20:56:11

Re : USD/JPY Forecast: Imminent bullish breakout

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