USDJPY – Traders are targeting the 150 mark, but what’s next?

13.10.2023

No important events are expected today.

This currency pair is again aiming to test the psychological mark of 150.00. The correction on the US government debt market is over and the yield of long-term securities is growing again, which has a favourable impact on the value of the dollar.

At the same time, I do not expect a strong growth of this currency pair, as investors remain interested in gold due to geopolitical tensions in the Middle East, and the Japanese yen and precious metal are historically highly correlated with each other. It is not excluded that due to geopolitics gold can grow to $1900 per ounce, which will have a positive impact on the value of the yen.

Recommendations: flat 149.10 -150.10