It was amazing to watch Wall Street just talk about the Fed as if they are not fighting inflation and are more concerned about the stock market and what Wall Street is making or losing. USD/JPY rose again during Thursday’s trading as the ADP readings came in much warmer than expected. These people think the Fed needs to be tight going forward, and when the jobs numbers come out on Friday, there’s a very good chance the volatility will continue. At this point, we have to start wondering if this couple has found some bottom. After all, we tested the ¥130 level and then bounced back. Advertisement The yen is a popular asset in troubled times. Trade USD/JPY now! I would also like to point out that the range around 130 yen extends to 128 yen as far as I can tell. In other words, we pay particular attention to the „support area”. The 200-day EMA, which is just above and near the ¥135 level, opens the door for a move much higher. This is due to differences in interest rates and of course the perception of what the Fed will do next. It was amazing to watch Wall Street just talk about the Fed as if they are not fighting inflation and are more concerned about the stock market and what Wall Street is making or losing. Jobs can have a big impact That’s understandable because frankly, the Fed has done everything Wall Street has wanted it to do for the past 1 years. That’s how we got here, so we need to see some reparative action. Every time Wall Street takes on more risk during a rally, it forces the Fed to dig even deeper. Until we break this cycle, I suspect we will continue to see a lot of volatility as „hopium” continues to flourish in investment houses. Once you’re firmly above the ¥135 level, I think that’s when you’ll start to see a continuation of the long-term uptrend. On the other hand, if we turn around and cut through the ¥128 level, I think you have a situation where we could start to break out of there, maybe we’ll go down to the ¥125 level. Finally, workload can have a big impact, so you should be aware of that.