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home / news releases / YCS - Price Action On USD/JPY GBP/JPY

YCS - Price Action On USD/JPY GBP/JPY

ProShares UltraShort Yen New

2024-07-19 03:45:00 ET

Summary

  • Japanese authorities have not confirmed whether they have intervened in the market to support the Yen.
  • USD/JPY broke a long-term descending trendline but found support near the 100-day MA and 155.00 level.
  • Price Action outlook and potential setups on USD/JPY and GBP/JPY.

By Zain Vawda

Fundamental Overview

The Japanese Yen is enjoying a stellar week, thanks in part to optimism around wage growth as well as rising rate cut optimism from the US Federal Reserve. The Yen rally has sparked talk of possible intervention for Japanese authorities, who have refused to confirm whether intervention took place or not....

For further details see:

Price Action On USD/JPY, GBP/JPY
Stock Information
Company Name: ProShares UltraShort Yen New
Stock Symbol: YCS
Market: NYSE
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