Short-term USDJPY buying strategyHello dear traders! Overall, the pair remains supported amid rising US Treasury yields and the US dollar after Fed officials adopted a cautious stance on the policy and inflation outlook. The CME FedWacth tool shows a 68% probability of interest rates falling from current levels in September, down from the 73% seen after the release of mild inflation data.
On the chart, an ascending channel has started to appear, which usually determines our medium-term outlook. By maintaining this aggressive buying level, there is a possibility that the current Resistance level of 156.55 could serve as a slight cooling target targeting the 155.50 support level for accumulation before a breakout and realization is now further enhanced. It is expected that this price increase will reach the 158.30 mark.