2024-11-12 23:10
IndustryUSD/JPY may remain volatile
USD/JPY returned to the 154 high on Monday. The rationale for the rally was first the market's disappointment over the pace of interest rate hikes by the Bank of Japan, and then the Trump trade. If we take the drop in the USD/JPY from 162 to 139 as a correction to the uptrend since the start of 2020, a new upward momentum is expected to approach 200. However, the end of this major scenario can only be confirmed if the US Treasury and BOJ act passively if the US and Japan break above the 162 level.
In the near term, USD/JPY's upward momentum has weakened; The USD/JPY is expected to trade in the 151.30-154.70 range.
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USD/JPY may remain volatile
Hong Kong | 2024-11-12 23:10USD/JPY returned to the 154 high on Monday. The rationale for the rally was first the market's disappointment over the pace of interest rate hikes by the Bank of Japan, and then the Trump trade. If we take the drop in the USD/JPY from 162 to 139 as a correction to the uptrend since the start of 2020, a new upward momentum is expected to approach 200. However, the end of this major scenario can only be confirmed if the US Treasury and BOJ act passively if the US and Japan break above the 162 level.
In the near term, USD/JPY's upward momentum has weakened; The USD/JPY is expected to trade in the 151.30-154.70 range.
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