USD/JPY Strategy - Initial Jobless Claims Below Expectations, USD Supported

Fundamental Analysis:

The U.S. initial jobless claims came in below expectations, temporarily pushing U.S. Treasury yields to 4.6%. However, strong demand in the U.S. Treasury Department's 7-year bond auction, particularly from foreign buyers, caused Treasury yields to pull back from their highs, limiting the dollar's gains. Nonetheless, the optimistic outlook for the U.S. economy is likely to continue attracting capital inflows into the dollar, suggesting that USD/JPY may continue to rise.

Technical Analysis:

The 30-minute chart shows higher highs and higher lows, indicating a bullish trend. It is suggested to initiate long positions in two parts with stop-loss orders below the previous lows. The take-profit target is set at the extension level of the current price increase.

Trading Recommendation:

Place buy orders at 157.783 and 157.599.

Stop-loss: 157.303 Target: 158.262.

Support Level: 157.303 Resistance Level: 158.262

Disclaimer: The above content is for reference only and does not represent the platform's position. Investors should exercise their judgment, manage risks effectively, and take responsibility for their profits and losses.