Forex News June 8, 2022

USD/JPY

  • USD/JPY remains on track to reach 135.00 in the near future.
  • The pair is currently up 0.4 percent on the day.
  • Following a brief pause in May, the pair has resumed its surging upward momentum in June.
  • With a 600 pips push since the lows around 127.00 last week, the pace remains rather unrelenting.
  • After breaking through short-term resistance just above 131.00, there is now little standing in the way of a push towards 135.00, at least from a technical standpoint.
  • Japanese officials’ light jawboning will continue to fall on deaf ears because their tone hasn’t changed in months. That speaks volumes about their willingness to intervene in the market.

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