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FxWirePro: USD/JPY extends drop, faces 38.2% fib support

• USD/JPY fell  on Thursday as rising bets on a Bank of Japan rate hike and escalating geopolitical tensions boosted demand for the safe-haven yen.

• The Bank of Japan kept rates unchanged Wednesday, citing global uncertainty and linking future hikes to potential U.S. tariff impacts.

• The BOJ ended its massive stimulus program last year, believing Japan was close to achieving its long-term inflation goals.

• The Bank of Japan signaled it is prepared to raise rates further if economic and price trends align with projections.

• At GMT 07.37,the dollar was up  0.09% at 148.57 against Japanese yen .
 
•  Immediate resistance is located at 150.00 (Psychological level), any close above will push the pair towards 150.94(Higher BB).

• Support is seen at 147.97(38.2%fib) and break below could take the pair towards 146.98(Lower BB ).

Recommendation: Good to sell around 148.60, with stop loss of 149.00 and target price of 147.80
 

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