$USDJPY Forex Signal: Bullish Breakout to 7-Month High Above ¥141
, I wrote that the support level at ¥134.45 was likely to be the day’s pivotal point. This was a good call once we got two consecutive lower hourly closes below that point, the price was able to fall considerably further.
Ass to this the fact that although the US Dollar is still just about within a long-term bearish trend, it has risen over recent hours and continues to be a relatively strong currency over the medium-term, with the Fed clearly signalling yesterday that despite its pause in hiking rates, more rate hikes can be expected later this year – most analysts are expecting another 0.25% rate hike at the Fed’s meeting next month.
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