USD/JPY continues march higher with key resistance still some distance away<p style="" class="text-align-justify">This continues from the move earlier in the day <a href="https://www.forexlive.com/news/usdjpy-extends-climb-to-fresh-highs-since-1998-20220906/" target="_blank">here</a>. As mentioned then:</p><p style="" class="text-align-justify">"With markets still sticking with the narrative of a more aggressive Fed and Treasury yields keeping the faith (10-year yields are up 4 7 bps to 3.23 3.26% today), the path of least resistance is still for a move higher in USD/JPY."</p><p style="" class="text-align-justify">The key resistance level to watch is the 145.00 mark and there is plenty of room to maneuver for buyers between where we are now and that. I would expect more jawboning to follow from Japanese officials but unless we see the bond market turn back the other way, it will be tough to fight the momentum in USD/JPY for the time being before we get to the US CPI data next week.</p>
This article was written by Justin Low at forexlive.com.
Source: USD/JPY continues march higher with key resistance still some distance away (https://forexlive.com/news/usdjpy-continues-march-higher-with-key-resistance-still-some-distance-away-20220906/https://forexlive.com/news/usdjpy-continues-march-higher-with-key-resistance-still-some-distance-away-20220906/)
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