BUZZ-COMMENT-The reasons why USD/JPY will likely probe the 2024 peak

Reuters11-14 19:19

Nov 14 (Reuters) - A combination of fundamental and technical factors point to even bigger U.S. dollar gains versus the Japanese yen in the days and weeks ahead.

USD/JPY has climbed above 156.00 for the first time since July, fuelled by higher U.S. treasury yields and Donald Trump's election victory in the United States.

There are a number of bullish signs on the current USD/JPY Ichimoku daily chart. There is potential for the completion of a "V" wave, which would be an 100% retrace of the 161.96 to 139.58 (July to September) drop.

The tenkan-sen and kijun-sen are positively aligned, with spot trading above both these lines and the cloud too. As chikou-span is well above the price of twenty-six days ago, that shows momentum is currently positive.

As there will be a "cloud twist" on Friday below 146.00, that warns of a potential relapse in the near-term. If there is not a significant relapse this week, however, that will increase the likelihood that the spot uptrend will remain on track for gains to the 161.96 "V" wave target. Ichimoku Explainer.

For more click on

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Daily Chart:

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(Martin Miller is a Reuters market analyst. The views expressed are his own)

((martin.miller@thomsonreuters.com))

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USD/JPY has climbed above 156.00 for...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_JPY","symbol_name":"日元","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2483387881","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483387881","pubTimestamp":1731583164,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Nov 14  - A combination of fundamental and technical factors point to even bigger U.S. dollar gains versus the Japanese yen in the days and weeks ahead.   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