FX.co ★ USD/JPY

USDJPY Price Fluctuations: We now examine the price fluctuations of the USD/JPY currency pair. In previous years, the USD/JPY pair has grown significantly before declining. With a closing price of 156.935, the 23.6 and 38.2 Fibonacci levels are 158.395 and 149.975, respectively. It is recommended to trade between 149.975 and 158.395 on Monday and the following week, based on the strategy of selling if the price increases to 158.411. The Bank of Japan wants to increase interest rates, while the US Federal Reserve wants to cut them. To avoid paying interest, persons that borrow yen as a financing currency will probably sell it. This pair's price is still slowly dropping. As the long-awaited collapse takes place, sellers who don't have enough money to withstand the drawdown may get upset, demonstrating that the price cannot climb forever. This collapse was hinted at by the MACD indicator, which formed a major bearish divergence—a uncommon occurrence in such a long time span, happening once a year or fewer. At the most recent update of the maximum, a bearish divergence was also seen on the second CCI indicator. A downward departure from the reversal pattern—an ascending wedge—confirmed this. The price dropped, overcoming barriers and halting momentarily at each. The support level of 162.585 finally gave up to selling pressure, despite an early comeback. The price then hit the rising support line but was unable to rise again, mostly as a result of Friday's negative US news that devalued the US dollar in the market. The non-agricultural employment index was far worse than anticipated. The unemployment rate in the US increased by 0.1 percentage points. This information probably caused the line to go lower, leading to an anticipated price increase to the previously broken level of 162.585, which seemed promising. The news-induced break of the rising line makes a corrective return and typical correction development highly probable.