Potential Market Interventions Spark Japanese Yen Surge
Monday, 15 July 2024, 08:19
Japanese Yen Strengthens Amidst Intervention Speculations
The USD/JPY pair is currently navigating a consolidation phase around the 158.24 level. We anticipate a potential decline to 157.05, followed by a rebound to 158.76. A subsequent drop to 154.74 is expected, which could prompt a corrective movement back to 158.24. The MACD indicator supports this bearish outlook, with its signal line positioned below zero and indicating a downward trajectory.
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