Analyst: USD/JPY bulls should be cautious of a bullish breakout, pullbacks may attract buyers
According to ChainCatcher, citing Gelonghui, StoneX analyst Matt Simpson stated that USD/JPY bulls are highly alert to a bullish breakout on the chart. The analyst pointed out that this rally has reversed last week's bearish bias. He believes whether USD/JPY can continue to rise may depend on confirmation of whether Japan's new prime minister can influence the Bank of Japan's rate hike path. Simpson added: "However, for now, it seems that price pullbacks tend to attract buyers."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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