USD/JPY Forecast 30/10: ¥159 Breakout In Focus (Video)
MENAFN- Daily Forex) The U.S. dollar continues to grind back and forth as we wait for the interest rate decision from Tokyo. At this point, the markets are very neutral, but we have a clear range.USD/JPYThe U.S. dollar finds itself going back and forth against the Japanese yen during trading on Thursday, which makes sense as we have a Bank of Japan interest rate decision coming up in the next 12 hours or so.Top Regulated Brokers1 Get Started 74% of retail CFD accounts lose money The market is currently hanging around the confluence of the 50-day and 200-day EMA indicators, which makes a lot of sense as well. We have been sideways for a while in a range between the ¥156.50 level and the ¥159 level.Whether or not we break out of there remains to be seen
Whether or not we break out of there remains to be seen, but if and when we do, that is probably a valuable clue as to what will happen next. I believe this is a market that is hanging around trying to sort out what the Japanese are going to do because, quite frankly, the market seems pretty convinced that the Federal Reserve is going to raise rates in December, widening the ga...