USDJPY has broken the Ascending channel and went up similar to USDCHF

USDJPY Analysis

As per the previous week USDJPY Analysis (click here to see), we recommend to our users that JPY is going to weak and USD remains strong.

Now, USDJPY has broken the top level of the Ascending channel (uptrend) and went up similar to this USDCHF move.

This shows that the USD remains so strong in all the assets.

Japanese Yen

coronavirus injection to group of people

Japanese Yen makes lower more as Vaccination will get started in mid of March and Lockdown extension or easing based on Vaccination hopes.

US Dollar strongly performed from last month as USDJPY reached 6% higher from February month.

And the Non-farm payroll (NFP) Data came positive as expected, this would further drive US Dollar higher and the Japanese Yen to lower.

Now, the US Dollar continues to stay in bullish mode.

US Dollar in bull mode

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