Technical Analysis: USD/JPY Increase Price Outlook
The Japanese Yen is currently receiving support from government intervention, but differing expectations from the Bank of Japan (BoJ) and the Federal Reserve (Fed), along with reduced tensions in the Middle East, have diminished JPY's role as a safe haven asset.
From a technical standpoint, indicators continue to signal an upward trend. The Relative Strength Index (RSI) is above 60 and prices are trading above simple moving averages (SMA), indicating stability and growth potential for the Japanese Yen in the market.
From a technical standpoint, indicators continue to signal an upward trend. The Relative Strength Index (RSI) is above 60 and prices are trading above simple moving averages (SMA), indicating stability and growth potential for the Japanese Yen in the market.
