Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
China's Refining Industry Faces Major Shakeup Amid Challenges 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Stock Futures Dip as Investors Await Key Payrolls Data 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
USD/JPY chart on Trading View used for analysis
- USD/JPY hit 5-week highs above 114 handle as widening UST-JGB yield spreads across the curve-supported upside.
- However, the pair failed to hold gains and is currently trading at 113.89, down 0.14% on the day.
- Results of the US elections and a hawkish FOMC that maintained the sentiment is likely to carry the dollar higher.
- Fed voted unanimously to leave interest rates unchanged and maintained its hawkish guidance.
- The statement saw few changes and overall continued to acknowledge the robust economy and more gradual rate increases.
- According to CMIE group’s FedWatch tool , the likelihood of the Fed raising rates by 25 bpbs in Dec is 75%.
- The pair trades with a bullish bias. We see some overbought pressures on oscillators, but pullbacks are likely to be minor and we would recommend buying on dips.
Major Support - 112.97 (cloud top), 111.76 (110-EMA)
Major Resistance - 114.55 (Oct 4th high), 114.74 (Nov 2017 high)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-USD-JPY-bounces-off-daily-cloud-positive-momentum-likely-to-continue-good-to-go-long-on-dips-1450650) has hit all targets.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
