USD/JPY gains traction above 149.60 amid the renewed USD demand
Hello traders! The USD/JPY pair is holding steady at 149.60 during the first trading hour in Europe on Tuesday. The demand for the US Dollar (USD) and the recovery of US Treasury bond yields have provided some support for this currency pair.
Currently, market focus is on the Industrial Production and the speech by the Federal Reserve (Fed) of the United States later on Tuesday. On Wednesday, Japan's trade data will be released, followed by the National Consumer Price Index (CPI) report on Friday. These data points could provide clear direction for the USD/JPY pair, with the target still being to break above 150.000 for further advancement.
Currently, market focus is on the Industrial Production and the speech by the Federal Reserve (Fed) of the United States later on Tuesday. On Wednesday, Japan's trade data will be released, followed by the National Consumer Price Index (CPI) report on Friday. These data points could provide clear direction for the USD/JPY pair, with the target still being to break above 150.000 for further advancement.
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