USDJPY remains well supported as buyers continue to defend the 161.00–161.30 zone. The pair is moving with a controlled bullish structure, and dips are still attracting demand.
The macro backdrop favours USD, mainly due to the wide US-Japan rate gap. Today’s US data could add more volatility if it supports a hawkish Fed outlook.
Trade Setup:
Buy Zone: 161.00 – 161.30
Stop Loss: 160.50
Take Profit 1: 162.00
Take Profit 2: 162.50
The macro backdrop favours USD, mainly due to the wide US-Japan rate gap. Today’s US data could add more volatility if it supports a hawkish Fed outlook.
Trade Setup:
Buy Zone: 161.00 – 161.30
Stop Loss: 160.50
Take Profit 1: 162.00
Take Profit 2: 162.50
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.