On Friday, the Bank of Japan (BoJ) raised interest rates to their highest level in 17 years.
After decades of deflation, Japan is now grappling with inflation, with the latest figure reaching 3.6%.
From a technical perspective, a high was established on July 8, 2024. Since then, the market has been trending downward.
Currently, on the 4-hour timeframe, a previous support level has failed to break and is now acting as resistance. This signals the potential for further downside movement.
Good Luck 👍
After decades of deflation, Japan is now grappling with inflation, with the latest figure reaching 3.6%.
From a technical perspective, a high was established on July 8, 2024. Since then, the market has been trending downward.
Currently, on the 4-hour timeframe, a previous support level has failed to break and is now acting as resistance. This signals the potential for further downside movement.
Good Luck 👍
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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.
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.