USDJPY Analysis :
USDJPY is rebounding from the higher low area of the Ascending triangle in the 4-hour timeframe chart.
In the smaller timeframe 1-hour chart, USDJPY is bouncing back after retesting the broken descending channel.
After the confirmation of upward movement, USDJPY buy signal given.
USDJPY reached the take profit target successfully.
US Dollar: US FED Powell testimony forecast
US Dollar index climbed above 97.80 due to Russia’s risk aversion and Ukraine War continuation.
And US 10-year Bonds yields are buying more as the Rate of interest is hiking or not, more doubtful around FED policies.
And also, today, FED Powell’s Testimony is scheduled before House Financial Services Committee.
Monthly ADP Report also scheduled Initial jobless claims and Non-Farm Payrolls on Friday scheduled.
And Rising Fears in Wars and Commodity prices surges, US Dollar is seen as a Safe Haven asset by investors to invest.
Japanese Yen: Japan announced some sanctions on Russia
Japanese Yen shows lower against USD due to Russia and Ukraine War fear increased higher.
And Japanese government announced that they are Banning Exports of Semiconductors and Electronic Equipments to Russia.
Russian Activities are Watched by G10 countries, coordinating with major countries, and imposing more sanctions on Russia.
Japanese Yen keeps higher as Risk aversion in War continues and inflation in the Global world is set to peak due to oil prices soaring above $100bbl.
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