Yen loses ground after intervention: USDJPY pushes towards 160 again
The yen has lost almost all of the gains from the intervention and continues to weaken. The rate currently stands at 159.30.
Technical outlook
On the H4 chart, the USDJPY pair has formed a Hanging Man reversal pattern near the upper Bollinger Band and is trading around 159.30. Since the price has broken out of the ascending channel, it may form a corrective wave as the pattern signal plays out, with the first target for the pullback at 158.50.

The yen continues to lose ground despite the Japanese government’s attempts to keep it afloat.
Read more - USDJPY Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
The yen has lost almost all of the gains from the intervention and continues to weaken. The rate currently stands at 159.30.
Technical outlook
On the H4 chart, the USDJPY pair has formed a Hanging Man reversal pattern near the upper Bollinger Band and is trading around 159.30. Since the price has broken out of the ascending channel, it may form a corrective wave as the pattern signal plays out, with the first target for the pullback at 158.50.

The yen continues to lose ground despite the Japanese government’s attempts to keep it afloat.
Read more - USDJPY Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team










