Check out today's USDJPY Signal-
Looking at the technical indicators, the 50-Day Exponential Moving Average is trending higher, indicating a building momentum.demonstrated a rally during Wednesday's trading session, maintaining upward pressure against the Japanese yen.
As a result, the attractiveness of the Japanese yen diminishes for traders. The current market environment, therefore, comes as no surprise.In this scenario, the market must determine its course of action, with significant attention focused on the ¥138 level. Breaking above this level would signify a breakthrough above the top of the ascending triangle pattern that has been forming for an extended period.
The US dollar rallied against the Japanese yen during Wednesday's trading session, driven by sustained upward pressure. The Bank of Japan's yield curve control policy, which involves flooding the market with Japanese yen to prevent interest rates from reaching 50 basis points, contributes to this market environment. Attention is focused on the ¥138 level, representing a potential breakthrough above the ascending triangle pattern.
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