Technical Analysis: USD/JPY Surges to Decades-High
The USD/JPY market is experiencing a notable period of growth, reaching its highest level in decades, driven by significant appreciation of the US Dollar. This increase is attributed to the economic hegemony of the United States, where the USD is regarded as one of the most stable and widely used currencies globally. Additionally, the large-scale selling of US Treasury bonds is exerting positive pressure, boosting demand for the USD.
On the chart, the upward trend in prices remains intact and is supported by technical indicators. The Relative Strength Index (RSI) is trading near overbought levels, indicating strong price appreciation, while also suggesting potential short-term correction risks.
On the chart, the upward trend in prices remains intact and is supported by technical indicators. The Relative Strength Index (RSI) is trading near overbought levels, indicating strong price appreciation, while also suggesting potential short-term correction risks.
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