The U.S. dollar has rallied to break above the ¥155 level during the trading session on Wednesday. But it looks at this point in time, we may be heading into a bit of choppiness. That makes sense. This has been a major barrier, but if and when we break through it, it could very well be like how it was when we broke above the ¥152 level.
We may see a massive squeeze. Keep in mind, Friday is the Bank of Japan interest rate decision, press conference and meeting. So, we could see a lot of noise on Friday. And I think there might be some concerns heading into that. So, whether or not we can follow through with it, this move remains to be seen. If we can get through all that, then I really don’t see what would keep this market from going to the ¥157 level after that, then we could be talking about ¥160.
