The USDJPY currency pair is a popular forex trading pair that represents the exchange rate between the United States Dollar (USD) and the Japanese Yen (JPY). In this pair, the base currency is the USD, and the quote currency is the JPY. It tells you how many Japanese Yen you can get in exchange for one United States Dollar.
For example, if the USDJPY exchange rate is 110.00, it means that 1 USD is equal to 110 JPY. If you were to exchange 1 USD, you would receive 110 JPY in return.
The USDJPY currency pair is known for its liquidity and is heavily traded in the forex market. Various factors influence the exchange rate between these two currencies, including economic data releases, interest rate differentials, geopolitical events, and market sentiment.
Traders and investors analyze these factors to make informed decisions about buying or selling the USDJPY pair, speculating on whether the exchange rate will rise (appreciate) or fall (depreciate) in the future. Additionally, the USDJPY pair is often used as an indicator of overall market risk sentiment; when traders are risk-averse, they may buy the Japanese Yen as a safe-haven currency, leading to a stronger JPY and a lower USDJPY exchange rate. Conversely, when risk appetite is high, the USDJPY rate may rise as traders seek higher-yielding assets denominated in USD.
The USD/JPY currency pair represents the value of the US dollar against the Japanese yen. Analysis of this pair typically includes looking at economic and political factors that may impact the relative strength of the US and Japanese economies, as well as other factors such as interest rate differentials and the overall state of the global economy. Technical analysis may also be used to identify trends and potential trading opportunities in the USD/JPY pair.
- Buying posted in Asia.
- Bespoke resistance is located at 130.950.
- Levels close to the 78.6% pullback level of 131.650 found sellers.
- A Fibonacci confluence area is located at 134.370.
- We look to set longs at our bespoke indicator levels (128.450).
Recommendations: Buy/Buy limit @ 128.800 Target/TP: 132.500
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