We can identify 3 key factors that will have a strong influence on the course of trading in this currency pair. Firstly, the growth of US government bond yields is positive for the strengthening of the dollar.

Secondly, geopolitical tension in the Middle East will support gold, which is favourable for the strengthening of the yen, with which the precious metal is historically strongly correlated. Thirdly, the fall of stock markets is also positive for the yen as the No. 1 funding currency in carry trade operations. Thus, 2 factors out of 3 point to the decline in quotes of this currency pair.

Recommendations: Sell 150.15/150.50 and TP 149.50.