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Analysts: Dollar against Yen long positions beware of bullish breakout, pullback may attract buyers to get on board.
Jin10 data reported on October 7, analyst Matt Simpson from StoneX stated that long positions in USD/JPY are on high alert for a bullish breakout on the charts. This analyst pointed out that this rise has reversed last week's bearish tendency. He believes that whether USD/JPY can sustain its rise may depend on the confirmation of whether Japan's new Prime Minister can influence the Central Bank's interest rate path. Simpson added: “However, at the moment, it seems that the price tends to attract buyers to get on board during pullbacks.”