USD / JPY continued to rise, and the previous trading session was temporarily hit 119,000, adding to further gains.
The strong bullish trend in USD / JPY continues to generate profits. Following the rise in interest rates from the US Federal Reserve, the USD / JPY rebounded and forex pairs rose to more than 119,000 for the time being, reflecting the sharp rise a day earlier. A.D. As of February 2016, speculation has been swirling in the USD / JPY as it battles the highly volatile inflation zone.
Some fundamental traders may ask why the USD / JPY has gained momentum amid negative sentiment in the global financial markets. Japan’s yen has historically been considered the most reliable currency in the world, and financial markets have become increasingly volatile.
However, since the outbreak of the war in Ukraine, there has not been much pressure on the USD / JPY, and it has largely disappeared. The Japanese yen did not understand the value of the Japanese stock and the fact that the Nikkei 225 was below its current trading price last year.
While some basic bonds may not be available to analysts, the USD / JPY continues to move technically. Resistance levels are at risk and the technical chart shows that USD / JPY was at 102,800 at the end of November 2021. The trend of forex pairs has been significant, and one is making an impact. Shadows of rising interest rates from the US Federal Reserve. The US Central Bank raised its quarterly points yesterday, and plans to add a few more times this year may have boosted support for the USD / JPY.
For daytime traders working on the USD / JPY side, it may be appropriate to increase the stop loss if you do not want to withdraw money from the trade. USD / JPY There is definitely a high chance of trading. If the 888,950 is again vulnerable and the 119.000 level is higher, traders could legally target the 119.250 junior.
Sellers who believe that the USD / JPY is over-purchased should use strong stop-loss ratios if they are to deal with current trends. If USD / JPY breaks below the 119.500 mark, 120,000 could soon be a magnet. Traders should not be overly eager to make a profit if they are to be successful. This is because if the USD / JPY fluctuates and volatility changes, it can cause sudden volatility.
USD / JPY Short View
Current resistance: 118.970
Current Support: 118.250
Top target: 119.530
Low target: 116.910