Yen-Dollar trades sideways as markets scrutinize rate hikes, growth worries

Dollar continues to trade sideways as markets scrutinize interest rate hikes and growth concerns

The technical chart shows that the exchange rate hit a high of 131.24 on April 28 and a high of 131.34 on May 9, until it broke through this area at the beginning of this month. Although there was a correction in the middle of this month, it just stopped above this area, that is, It can be regarded as a technical back-draw, so it is expected that the dollar against the yen will be able to form an upward trend again. The upward target will be seen at 137 and 140, and the larger target will point to the 1998 high of 144.80. Looking back at the 134.20 and 132 levels for support, the key is to continue to pay attention to the 131.20 level.

Estimated volatility:
Resistance 137.00 – 140.00** - 144.80
Support 134.20 – 132.00 – 131.30*

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