USD/JPY hits 148.50 as the non-stop rally continues ...Middle East

USD/JPY today cleared the last major hurdle standing in the way of a yet-another retest of 150.00.It rose above the 61.8% retracement level from November-December slump, cruising through and adding another 100 pips beyond it. It's up 130 pips to 148.50.The pair has soared higher from 144.50 at the start of the week, gaining 400 pips in a one-way move. From the start of the year, it's now up nearly 800 pips as the December slump unwinds.Two things have driven it:1) The BOJ has pushed back on rate hiking expectationsThe earthquake in Japan was the first even that sparked buy as it was thought to delay any possible January move. That was followed by disappointing Japanese CPI numbers and some p

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Last updated : 17 January 2024 clock 07:13 PM

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USD/JPY hits 148.50 as the non-stop rally continues ...Middle East

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