According to economists from Societe GeneraleThe USD/JPY remains in a tight range as traders await fresh catalysts in the form of the Fed and BoJ next week.
A break above 147.80/148.10 is essential to affirm the continuation of the bullish movement
Bank of Japan meets next week, expectations for policy change low, but a move closer to 150.00 in the USD/JPY is not ruled out after the FOMC decision.
A break above the top of the recent consolidation at 147.80/148.10which is also the trend line connecting the June and August highs, It is essential to affirm the continuation of the bullish movement.
In case the pair fails to defend the recent pivot low at 145.90, there could be risk of a short-term pullback towards the 50-DMA near 144.50/143.90.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.