Analysis of the dollar-yen pair

At the basic level:

The Japanese yen rose strongly during Thursday's trading as the yield spreads between Japan and other major economies narrowed, they say, as the intense selling in Japanese government bonds accelerated recently following signals from Bank of Japan officials about further interest rate hikes.

On the other side of the US economy, we are waiting today for weekly unemployment benefits and then the Philadelphia manufacturing index.

At the technical level:

The USD/JPY pair fell by 1% to almost 150 levels, marking its lowest level in 10 weeks.

Today, the pair is trading within a bearish price channel, which is expected to be reached near the levels of 149.50 / 30, which is a good call that could push the pair for some upward corrections near 151 and then 152.50.

Then we can sell again after reaching the upper limit of the descending price channel, since we expect the yen to rise further against most major currencies in the coming period.