The US Dollar/Japanese Yen (USD/JPY) currency pair is having a strong run, with the next target at the 135.00 level and beyond, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. The two experts are of the view that further gains are likely and they are expecting the currency pair to break the key resistance level of 135.00 in the near future.
The current bullish trend in the USD/JPY currency pair is being driven by improved upward momentum. The experts are of the view that the USD will continue to advance, with the next level to watch being 135.00, followed by 135.50. However, if the pair fails to break the 135.00 level, it could indicate that the current upward pressure has eased.
On the downside, the experts are keeping an eye on the 132.80 level, which is considered to be a strong support level. A break of this level would suggest that the bullish momentum has eased and that the pair may start to decline.
The current bullish trend in the USD/JPY currency pair is being driven by a number of factors. Firstly, the US economy is currently performing well and the US Dollar has been gaining strength as a result. Secondly, the Japanese Yen has been weakening due to the Bank of Japan’s monetary policy and its attempts to stimulate the economy.
In addition, the US Dollar has also been boosted by the recent tax cuts and the prospect of further fiscal stimulus. This has led to increased investor confidence in the US economy and has boosted the US Dollar’s strength.
The Japanese Yen, on the other hand, has been weakened by the Bank of Japan’s monetary policy and its attempts to stimulate the economy. The Bank of Japan has been keeping interest rates low, which has weakened the Japanese Yen and has made it less attractive to investors.
The current bullish trend in the USD/JPY currency pair is likely to continue in the near future, with the next target at the 135.00 level and beyond. However, if the pair fails to break the 135.00 level, it could indicate that the current upward pressure has eased. In this case, investors should watch the 132.80 level, which is considered to be a strong support level. A break of this level would suggest that the bullish momentum has eased and that the pair may start to decline.
Overall, the USD/JPY currency pair is currently in a strong bullish trend and is likely to continue its upward trajectory in the near future. The next target at the 135.00 level and beyond looks likely and investors should keep an eye on this level as well as the 132.80 support level. The current bullish trend is being driven by a number of factors, such as the US economy’s performance, the US Dollar’s strength, and the Bank of Japan’s monetary policy. As long as these factors remain in place, the USD/JPY currency pair is likely to continue its bullish trend in the near future.
