The Japanese Yen (JPY) finally boxed its way out of its corner on Friday, strengthening against most counterparts, after the release of Tokyo inflatio
Japanese Yen rebounds after Tokyo inflation data increases bets the Bank of Japan will tighten policy. The US Dollar loses traction after US inflation comes out in line with estimates. The USD/JPY remains in uptrend but price falling to key make-or-break trendline for short-term chart. n data spurred bets the Bank of Japan will raise interest rates – broadly seen as positive for the currency.
The uptrend is, therefore, still likely to resume. The next major target is at the 152.00 highs achieved in October 2022. The pair has completed an ascending triangle on the daily chart and broken above the 150.16 high of October 3, confirming a breakout. The triangle’s technical target is at around 152. US Dollar vs Japanese Yen: Daily Chart A re-break above Thursday’s highs of 150.80 would provide fresh confirmation of the continued advance.
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