USD/JPY Soars as US Interest Rates Fuel Bullish Trend

The USD/JPY currency pair saw a significant rally on Thursday as interest rates in the US surged. This trend is expected to continue, with some analysts predicting a major move higher. According to Christopher Lewis, a technical analyst at DailyForex, the market has been attracting buyers on dips and is likely to go much higher over the longer term.

The interest rate differential between the US and Japan continues to play out in this pair, favoring the US dollar. This has created opportunities for investors to buy the USD/JPY, with some analysts seeing a target of 225 yen as part of a multi-year rounded bottom pattern.

Christopher Lewis has been long on the USD/JPY for quite some time and has seen the market offer opportunities to add to his position whenever Japan tries to intervene. He believes that rising interest rates in the US will only exacerbate this trend, making it an attractive investment opportunity.