USD/JPY on Fire: Dollar Breaks Out as Yen Stumbles—Is 150 Next?
The forex market is jumping as USD/JPY fires up and trades super close to 148! The Japanese Yen is the weakest player today, losing ground against all major currencies. Everyone in forex trading is waiting for Tokyo’s fresh CPI numbers, expected to show a 2.5% rise for August—less than before. This is making traders doubt if the Bank of Japan will raise rates anytime soon, adding even more pressure on the yen.
On the other hand, the US Dollar is cruising, even with major headlines about the Fed. drama—the firing of Lisa Cook, followed by a lawsuit, has everyone buzzing about the Fed’s future and Donald Trump’s influence on interest rate policy.
The USD/JPY chart is flashing a big ascending triangle pattern, hinting at a possible breakout. If the pair jumps past 148.78, many traders have eyes on 150 and above for their next big win. But if things reverse below 145.85, get ready for a fast fall to 144.22 or even 143.45.
Impact:
If JPY stays weak, expect more USD/JPY buying action, making the dollar even stronger. If Tokyo CPI surprises higher, look out for quick yen gains and a wild ride for forex pairs
