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25.04.2024
USDJPY reached the 155 mark
On Wednesday, USDJPY continued climbing. It ended up 0.33% at 155.33. It reached the 155 mark for the first time since June 1990.
The BOJ may take actions
The BOJ may take any actions in response to extreme volatility in the Forex market, the Finance Minister Jun Suzuki said.
In addition, if the price continued climbing, the interest rate may be further raised, the BOJ Governor noted last week.
The USDX was prone to fluctuation and climbed
On Wednesday, the USDX was prone to fluctuation and climbed. It ended up 0.12% at 105.82.
The bullish market trend prevailed in the short term
the Chart of the Day
On the chart of the day, USDJPY continued climbing. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing USDJPY will rise further. Investors should focus on whether USDJPY will break through the resistance at 156.0. It will rise further with potential resistance at 157.0 if it breaks above 156.0.
4-hour chart
On the 4-hour chart, USDJPY was prone to fluctuation and climbed. The bullish market prevailed in the short term. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing the market trend is bullish. Investors should focus on whether USDJPY will break through the support at 155.0. It will rise further if it breaks above the support at 155.0.
Key resistance: 156.0, 157.0
Key support: 155.0, 154.5
Generally speaking, USDJPY is more likely to rise further in the short term before the USDX climbs and the BOJ doesn’t take any actions. Investors should focus on US economic data during the day.
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