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Forex

USD/JPY Breakout Looms as Interest Rates Support Dollar

Instruments
JPY AUD NZD
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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.

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