Overall, USD/JPY is trending upwards, but currently still sitting in consolidation at 122.522
Governor from Bank of Japan has indicated;
"May Not Necessarily Be A 'Last Resort' But We Will Offer To Buy Unlimited Amount Of 10-Year JGBs If Rise In Long-Term Interest Rates Is Rapid"
A short term retracement towards next support zone of 121.70 seems unlikely now.
Instead, look for trend continuation if price breaks above 123.234 towards 125.00
Look for short-term buying opportunities of USD/JPY back towards resistance level 125.00
Governor from Bank of Japan has indicated;
"May Not Necessarily Be A 'Last Resort' But We Will Offer To Buy Unlimited Amount Of 10-Year JGBs If Rise In Long-Term Interest Rates Is Rapid"
A short term retracement towards next support zone of 121.70 seems unlikely now.
Instead, look for trend continuation if price breaks above 123.234 towards 125.00
Look for short-term buying opportunities of USD/JPY back towards resistance level 125.00
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