This article zeroes in on the yen’s technical outlook for Q1, 2024. Unlock a more detailed analysis of the Japanese currency’s fundamental profile for the next three months with our free first-quarter forecast. Request the guide now!
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USD/JPY Needs to Retake Resistance at 147.48
The preceding quarter saw USD/JPY power up to highs not previously seen since mid-1990, thanks largely to those fundamental, interest-rate differentials. In that context the retreat since has been very modest, but it still means the pair is set to end this three-month period fairly close to where it started (USD/JPY was at 145.80 at the start of September).
The big question as we head into 2024 is the extent to which the current Dollar downtrend endures. The pair looks to have solid support ahead of the fourth Fibonacci…
