USD/JPY breaks 155 ...Middle East

Here we go: USD/JPY has broken 155.00.After the quick break, it's retreated down to 154.85. Expect a round of volatility and there's always the chance of intervention. However I think the MOF is ultimately fighting a losing battle due to broad USD strength that's fundamentally driven.If the 155 level isn't beaten back, look for the market to take aim at 160.00 and that's a level where Japan could take a tougher stand. Also remember that we're around 36 hours from the Bank of Japan decision and they may wish to lend a hawkish helping hand. This article was written by Adam Button at www.forexlive.com.

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Last updated : 24 April 2024 clock 03:29 PM

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