USD/JPY holds 150 at the first time of asking
Yesterday the dollar got hammered and as reported, even the USD/JPY came under pressure, but in relative terms it held up quite well. That allowed further gains to unfold in the EUR/JPY and the GBP/JPY, but more on those later this morning. The USD/JPY dropped to a low at 150.16 later yesterday evening, from an earlier session high at 151.78. On Monday the USD/JPY had come to within a whisker of reaching the 2022 high, at 151.95. The high seen was set at 151.91. Now, given that the dollar has stalled where it did and now fallen back, this does offer the prospect of a potentially massive double top on the daily and weekly charts. That seems more likely than not right now and it could be crucial for the price action in the USD/JPY going forward. The range seen so far today has been covered by 150.29 to 150.79. So, as you can see the dollar has managed to hold that 150 handle and rebound, which has once again fed into the major Yen crosses, delivering further upside. The USD/JPY is just now trading at 150.62
Market News
All News-
Bitcoin busts above triple top and sets new 2023 rebound high
Following on from an earlier update here, noting the prospect of Bitcoin potentially taking out the previous set of daily highs, the lead coin has now... -
Santa is on his way it seems as European stocks gain-check out the DAX now
The rise across the major European stock markets is extending right now. That has seen the FTSE 100 push further above 7,500 and the DAX rise towards... -
USD/JPY drops back below 148 as EUR/JPY unwind continues
All this week the price action in the EUR/JPY has been largely characterised by a downside reversal from what was an electric rise to above 164 (164...