The USDJPY
USD/JPY

The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting

The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting
Read this Term has moved sharply higher in trading today helped by Japan’s CPI data and expectations that the Bank of Japan will keep their yield curve control
Yield curve control

Yield curve control (YCC) is a monetary policy tool that central banks use to influence the shape of the yield curve, which is a graph that plots the yields of bonds with different maturities. The yield curve is typically upward sloping, meaning that long-term bond yields are higher than short-term bond yields.YCC is a way for central banks to target specific yield levels on government bonds. It involves the central bank buying or selling government bonds to control the interest rates on those b

Yield curve control (YCC) is a monetary policy tool that central banks use to influence the shape of the yield curve, which is a graph that plots the yields of bonds with different maturities. The yield curve is typically upward sloping, meaning that long-term bond yields are higher than short-term bond yields.YCC is a way for central banks to target specific yield levels on government bonds. It involves the central bank buying or selling government bonds to control the interest rates on those b
Read this Term unchanged next week and the Federal Reserve will raise rates by the expected 25 basis points. This week the USDJPY is up around 2%.

Technically, the price raced through the 50% midpoint target of the move down from the end of June high. That level comes in at 141.149. I am looking for support against that level on the dip. Hold that level and get back above the 141.43-141.47 area and a move toward the 61.8% retracement 142.07 would be targeted. The high price today reach 141.948 before rotating back to the downside. That too will be a level to get above.

The move today is already impressive (range of 221 pips vs 128 pip average over the last 22 days – about a month of trading). But we have to respect the trend move higher today. The 50% will tell us how bullish the buyers are today. Be aware.