USD/JPY Breakout Looms as Interest Rates Support Dollar
The USD/JPY pair has been trending higher since August 28 and is currently trading above the 160.00 level, with a bullish momentum that could lead to a breakout at 160.33.
In an interview, a proprietary trader noted that they have no interest in shorting this pair due to the interest rate differential, but there is some risk of intervention.
The AUD/USD and NZD/USD pairs are facing downside setups, with the Australian dollar falling below the 0.7156 level and the New Zealand dollar breaking below the 0.5900 level.