Economic news plays a vital role in the financial market, with interest rates being one of the primary game changers. In most cases, Interest rate decision has initiated a trend change and favors the currency with the higher interest rates. The USA has the highest interest rates which would be one of the reasons why the dollar is more attractive in the market.
My opinion: USDJPY has been on a solid bullish trajectory for a couple of weeks and as per analysis, the trend seems not to halt soon.
Reserve Bank of Australia interest rates – Actual 4.1%
Bank of Japan interest rates – Actual -0.1%
Bank of England – Actual 5%
Federal Reserve – 5.25%
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