USDJPY: Continuing uptrend
The Japanese Yen benefited from the hawkish stance of the Bank of Japan on Tuesday, despite a lack of further action. The uncertain global political and economic landscape provides a safe haven for the JPY. Betting on an early interest rate cut by the Fed will support the USD and the USD/JPY pair.
My personal observation: The upward trend remains dominant, trading with the trend is always safe.
From an analytical perspective: EMA 34 and 89 continue to reinforce this, as indicated by Fibonacci.
I highly emphasize a profit target of 151.59 at this time, which is also a Fibonacci retracement level of 1.618.
My personal observation: The upward trend remains dominant, trading with the trend is always safe.
From an analytical perspective: EMA 34 and 89 continue to reinforce this, as indicated by Fibonacci.
I highly emphasize a profit target of 151.59 at this time, which is also a Fibonacci retracement level of 1.618.
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