USDJPY: Shock reduction
Diupdate
Hello dear friends! Contrary to its counterparts, USDJPY has been consistently struggling to find upward momentum. The price is currently experiencing a deep decline and continues to extend it until today, trading around 147.043 and decreasing by 0.29% in the day.
Believing that the Federal Reserve (Fed) has completed interest rate hikes and may begin to loosen its policies in the first half of 2024, this has pushed the USD index (DXY) to a near three-month low. Additionally, concerns about global economic recession favor the safe-haven JPY and put downward pressure on the USD/JPY pair.
In that case, the next target for this currency pair could be around 145.00 after a slight correction.
Believing that the Federal Reserve (Fed) has completed interest rate hikes and may begin to loosen its policies in the first half of 2024, this has pushed the USD index (DXY) to a near three-month low. Additionally, concerns about global economic recession favor the safe-haven JPY and put downward pressure on the USD/JPY pair.
In that case, the next target for this currency pair could be around 145.00 after a slight correction.
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