Asset Watch
Wednesday, April 12, 2023
This time around, there is still room before the USD/JPY reaches its 200-day MA, which means the rally could have legs. Additionally, the upward-sloping grey line shows how the USD/JPY continues to make higher closing lows, and trendline support is near 131.54.
Since the pain trade is higher, the outlook remains bullish if it holds above its 100-day MA. If not, it will need to bounce near the rising support line.
As a result, do you expect the USD/JPY to make a run toward its 200-day MA, or will weaker U.S. economic data weigh on the dollar in the weeks ahead?