Should we expect new records for Dollar-Yen?


The Japanese yen started to fall again against the dollar, this is the third peak above 150 Yen to the dollar and after the intervention of the Bank of Japan.
On Tuesday, USD/JPY traded at a high of 150.87.
Levels above USD/JPY 150 are a signal to traders that the Bank of Japan may intervene in the market and lower the rate by at least 300 pips. Therefore, trading above these levels is currently only regulated, and reaching 150 Yen to the Dollar, a decline follows.
The first time we saw levels above 150 Yen to the Dollar was on October 16, 2022, and the second time the Bank of Japan intervened was in November 2023.
Following the technical and fundamental data, we can conclude that this time we may witness a new record above 151.94 (October 16, 2022 Record). World-Signals.som expects a breakout next week with a probability of levels above 154.00.

Source: World-Signals

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