USD/JPY outlook: Hawkish Fed and dovish BOJ lift USD/JPY
|USD/JPY
The USDJPY surges through 145 barrier in early Thursday’s trading and posts new 24-year high, inflated by hawkish Fed and repeatedly dovish stance from BOJ, which kept its ultra-easy policy and sent quite mild signals about possible intervention to support its weakening currency.
Fresh bullish acceleration (the pair was up nearly 1.3% since Asian opening on Thursday) approaches round-figure 146 barrier ahead of Fibo projections at 146.32 and 147.14, with focus on Aug 1998 peak at 147.68.
Former strong barrier at 145.00 reverted to support which should ideally contain, with deeper dips to find ground above rising 10DMA (143.62) to keep bulls intact.
Res: 146.32; 146.61; 147.14; 148.00.
Sup: 145.00; 143.95; 143.62; 142.64.
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