Fri, Jun 09, 2023 @ 14:39 GMT
HomeContributorsTechnical AnalysisUSD/JPY Breaking to New Highs on Hawkish Fed and No Change by...

USD/JPY Breaking to New Highs on Hawkish Fed and No Change by BoJ

The USD is strong across the board after FED raised rates by 75bp yesterday, while stocks turned down. We see USD at new highs vs plenty of currencies, including JPY after no change from the BoJ policy decisions. We see USDJPY trading at a new high after breaking out of a triangle as expected, so there can be a fifth wave now in late stages with the first resistance at 147 followed by the second one at 148. 148 is also very big and important level back from 1998 when BoJ intervented in the FX market and caused a sharp sell-off on USDJPY that lasted a few years.

Elliott Wave Financial Service
Elliott Wave Financial Service
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading