On the daily chart, the late October/early November double high just under 152 stands out as an area of interest. If USD/JPY approaches this multi-decade high then the market will be on high alert for any signs of official intervention, either verbal or actual. If Japanese officials effectively cap USDJPY around this level, and with rate differentials between the currencies narrowing in the months ahead, USD/JPY may have a way to fall this year.Retail trader data show 27.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.