USD/JPY Technical Analysis: Bulls Attempt to Control

For three trading sessions in a row, the bulls are moving at the price of the USD/JPY currency pair to the upside until the US jobs numbers are announced tomorrow, Friday. This will be the strongest driver of the US dollar pairs for this week’s trading. The rebound gains for the dollar-yen pair brought it to the level of 134.55 before settling around the level of 133.85 at the time of writing the analysis. The rebound came from the support level 130.40, which confirmed the break of the bullish trend.

Expectations of a US interest rate hike continue to support record gains for the US dollar in the currency market. In this regard, James Bullard, President of the Federal Reserve Bank of St. Louis, said he favored a strategy of raising interest rates “from the front,” and reiterated that he wanted to end the year at 3.75% to 4% to tackle the hottest inflation in four decades. „We still have some ways to go here to get to tight monetary policy,” Bullard added in an interview with CNBC. „I’ve argued now that with the hotter inflation numbers in the spring, we should get to 3.75% to 4% this year.” Deciding whether you want to do this at a particular meeting, or another is a great question. I loved the front loading. I think it enhances our anti-inflation qualifications.”

Dodaj komentarz

Twój adres e-mail nie zostanie opublikowany.