Hi everybody! Today, the USD/JPY pair is showing slight volatility falling below the mid-147.00 level. The decline in the value of the US Dollar (USD) is putting downward pressure on the USD/JPY pair, which is currently trading near 147.12, down 0.23% on the day.
Looking at the technical picture of the USD/JPY pair on the 4-hour chart, we can see that the Current Trend suggests that an upward movement of the USD/JPY pair is more likely. Therefore, it looks like there will finally be a rise towards last Friday's year-to-date high in the approximately 147.85 area. Furthermore, the emergence of some US Dollar (USD) selling, amid uncertainty about the Federal Reserve's (Fed) future interest rate hike path, contributed to the overall trend. around the USD/JPY pair. Many buyers can be invited to join the market.
Wish you good luck trading.
Looking at the technical picture of the USD/JPY pair on the 4-hour chart, we can see that the Current Trend suggests that an upward movement of the USD/JPY pair is more likely. Therefore, it looks like there will finally be a rise towards last Friday's year-to-date high in the approximately 147.85 area. Furthermore, the emergence of some US Dollar (USD) selling, amid uncertainty about the Federal Reserve's (Fed) future interest rate hike path, contributed to the overall trend. around the USD/JPY pair. Many buyers can be invited to join the market.
Wish you good luck trading.
