USD/JPY recovered modestly at best

ที่อัปเดต:
The USD/JPY currency pair has experienced a surge, reaching its highest level in 11 months, with a current value of around 149.90. This upward trajectory is attributed to the US Dollar (USD) benefiting from reduced investor demand and an increase in risk appetite. Consequently, money has been flowing into the USD, which is considered a safe-haven currency.

In contrast, the Bank of Japan (BoJ) maintains its ultra-loose monetary policy framework and recently announced an unscheduled bond buying spree to curb the rising interest rates on Japanese government bonds. By doing so, they aim to stabilize the market and prevent further spikes in interest rates.

Additionally, the US Dollar Index (DXY) has also climbed to an 11-month high due to higher yields on US Treasury bonds. At present, the yield for 10-year US Treasury bonds stands at 4.67%, surpassing levels not seen since 2007. It is this increase in yields that continues to drive momentum for this particular currency pair.

Overall, these factors contribute to USD/JPY's upward movement as investors seek out higher returns and reassurance amid global economic uncertainties.
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Mixed United States (US) data released on Monday strengthened the greenback. The US ISM Manufacturing PMI improved to 49.0 in September from 47.6 in the previous reading, above the market consensus of 47.7. Producer prices paid decreased significantly from 48.4 to 43.8. The employment index increased from 48.4 to 51.2.
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good luck everyone
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USDJPY exits bearish correction continuing to target 150.00
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what do you think ?
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good luck
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