Refer a friend

The USDJPY price has broken through key resistance as the USD momentum continues. Could the price trade higher?

Watch the video to learn more…

USDJPY Will Traders Buy Again?

The price of USDJPY has gapped up on the open of this week showing the potential for the price to trade higher. Recently in the news the Non-Farm Payroll figures out of the US surprised investors by coming in above expectations. The USD strengthened off the back of this data causing the price of USDJPY to break above 131.00. 

In a Bank of Japan announcement current deputy Governor Amamiya has been suggested as the next Governor or the Bank of Japan. Amamiya is known to be a dovish member of the BoJ and is interested in keeping rates very low. This has seen the JPY weaken against the USD.

USDJPY Currency Trading Forex Broker 6-2-23

The price on the chart has traded through multiple technical levels and some observations included:

  • Breakout of a bullish channel.
  • Key resistance breakout at 131.00.
  • The next key resistance is 134.50.
  • Traders will be looking for the price to retest minor demand zones before going long again.

Have you watched our Week Ahead Analysis analysis? You can see it here

Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you with your quick account setup for any future concerns. Start trading with Blueberry Markets today.

About The Author

Join us on Telegram
and get real-time
alerts on
Forex,
Indices, Gold, Crypto
and Share CFDs

Join now for free
telegram cta
bbjam graphic

Sign up to
Blueberry Jam

Back up your trade positions with insights
and how-to-guides, straight to your
inbox every week

Thank you. You have successfully subscribed to Blueberry Jam!