Jpy descent
Updated
As you all probably noticed over the past month the trend has changed. And now we have to look back at that path that we have made to understand what we should expect from present and future. The next key level is 148.50. And a test of this level is practically necessary. But I'm confused by the day-doji, so I'm waiting for small fluctuations up first, which can play into our hands and give an opportunity for a short position.
Let's not forget about actual fundamental reasons. Not so far ago Japanese pension funds tilted their hedge ratios higher against the risk of their foreign earnings depreciating in yen terms. And Japan has higher current account surplus, unsustainable pache of bond purchases by the Bank of Japan, improved inflation and higher upside for possible future policy tightening.
Macd, Stochastic, Momentum do not contradict my reflections.
Let's not forget about actual fundamental reasons. Not so far ago Japanese pension funds tilted their hedge ratios higher against the risk of their foreign earnings depreciating in yen terms. And Japan has higher current account surplus, unsustainable pache of bond purchases by the Bank of Japan, improved inflation and higher upside for possible future policy tightening.
Macd, Stochastic, Momentum do not contradict my reflections.
Note
SL hit, but idea is the same.
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