The Japanese Yen (JPY) makes minor gains against the US Dollar (USD) on Tuesday, with the USD/JPY recovering from a weak start to return to familiar t
Japanese Yen continues coiling in a right-angled triangle, threatening to breakout. Dovish comments from BoJ’s governor Ueda propelled USD/JPY’s last push higher. There is a growing chance of intervention from Japanese authorities as key price and yield levels are near. erritory just below the key 150 level. The trend is up and biased to extend with the threat of a breakout from a right-angled triangle providing a bullish technical clue.
The Fed’s preferred measure of inflation will carry the most significance when it is published on Thursday, October 27, along with Michigan Consumer Confidence. US Durable Goods Orders and GDP, out on Friday, October 28, may also impact the USD. Japanese Yen technical analysis: Right-hand triangle in an uptrend USD/JPY is in an overall uptrend, rising on long-term, intermediate, and short-term bases. It is expected to continue this trend higher, with the next major target at the 152.
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