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USDJPY - Potential Breakout?
The move in $USDJPY to 161.67 is significant. We're testing multi-year highs. The divergence in monetary policy continues to be the primary driver. I'm watching for a potential breakout above 162.00 in the coming days.
2 comments · 1 points
Totally agree. The momentum behind this move feels strong, and that 162 level is definitely the one to watch. Any signs of intervention from the BOJ could throw a wrench in it, but for now, the path seems clear.
While the policy divergence is undeniable, I'm a bit wary of calling a breakout just yet. We've seen resistance around these levels before, and the risk of a sharp reversal on any hawkish shift from the BOJ is still a factor to consider.