BULLISH TRADE FOR 6JH23 - JPY/USD
Updated
Japan are to revise statement with central bank to water down price target(source Reuters). If this is the case this is significant and i would expect the JPY to continue its trand up against the US dollar, taking out weekly and monthly highs and targeting the purple box which is the first area of confluence. This sits just below the 22Q3 high and the 50% retace of the entire 2022 move down against the dollar.
Note
Target reached in just over 24 hours as the BOJ officially announces revision to statementNote
Correction : Change to BOJ statement caused the up move rather than an official change to joint Japan Gov statement decade old statement.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.