The USD/JPY has increased sharply in the last hours and is very close to hit new highs till the end of the day, has rallied even if the Us dollar index has remained steady. The greenback could resume the upside movement versus all its rivals as the United States data have come in mixed today, the US dollar index has increased again and is expected to close the day above the 98.56 static support, the index may resume the upside movement, if this scenario will happen, then the greenback will appreciate further.

The United States economic data continue to come in USD’s support, the data have come batter in the last weeks, so the Federal Reserve could be forced to increase the interest rate till the end of the year. The FED could take action in December, when they could increase the Federal Funds Rate by  0.25%, the FOMC will take this decision only if the United States economic figures will come better in the upcoming weeks. The US economy has shown recovery signs after a minor decrease, we’ll see what will happen in the coming period, but the USD/JPY sentiment has changed again and is expected to increase in the coming period.

The rate has edged higher aggressively in the last hours, the USD has received a helping hand from the Pending Home Sales indicator, which has come in better than expected, the rate has managed to jump again above the lower median line (lml) of the ascending pitchfork, will increase further in the coming period if will have enough energy to stabilize above this level. The next upside target will be at the 38.2% retracement level and higher at the upper median line (UML) of the descending pitchfork, the rate could try to reach also the median line (ml) of the minor ascending pitchfork. The USD/JPY is expected to increase further after the failure to retest the median line (ML) of the major descending pitchfork, is expected to increase also because has failed to touch the minor ascending sliding line (dotted line) in the last several attempts.