USDJPY Long Forecast Monetary Policy Statement
Fundamental Backdrop
1. The Bank of Japan left interest rates unchanged, showing a very big interest rate differential between JPY and USD, weakening the JPY.
2. There are also signs that inflation has sustained above BOJ’s 2% target.
Technical Confluences
1. The overall bias for USDJPY on the H4 chart is bullish . To add confluence to our bias, price is above the Ichimoku cloud .
2. Near-term resistance at 137.600.
3. Minor support at 136.000.
Idea
With my bias on the USD to still be bullish , combined with the weak fundamental backdrop on JPY, I expect price to head towards the near-term resistance at 137.600. #OPINIONLEADER#
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.