Analyst: USD/JPY bulls should be cautious of a bullish breakout, pullbacks may attract buyers
According to ChainCatcher, citing Gelonghui, StoneX analyst Matt Simpson stated that USD/JPY bulls are highly alert to a bullish breakout on the chart. The analyst pointed out that this rally has reversed last week's bearish bias. He believes whether USD/JPY can continue to rise may depend on confirmation of whether Japan's new prime minister can influence the Bank of Japan's rate hike path. Simpson added: "However, for now, it seems that price pullbacks tend to attract buyers."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hyundai builds vehicles for Waymo: hoping autonomous taxis will offset the impact of slowing EV demand
Hyundai aims to offset the slowdown in electric vehicle demand by introducing driverless taxis.
Qatar Energy chief refutes Besent: The Strait of Hormuz will never be "worthless"
Qatar's Minister of Energy, Saad Al Kaabi, stated that US Treasury Secretary Scott Besent's claim that the Strait of Hormuz will become "worthless" within two years is "incorrect."
Stacks crypto jumps 13% – Could STX bulls extend the price rally?
Crypto prices
More
