USDJPY short -term, overview of long -term
Updated
Dear friends, facing the pressure of 150.50, USDJPY is experiencing a quiet trading period. At the time of writing, the price is trading at 150.44.
Regarding the news:
In its monetary policy decisions, the Bank of Japan (BoJ) has kept interest rates at -0.1%, as expected by market participants. This is favorable for the USDJPY pair.
The Japanese economy is striving to maintain inflation consistently above 2%, but price pressures are coming from external factors. BoJ is concerned about comfortably achieving the 2% inflation target through higher wages and continuing its stance of expansionary policies, which is crucial.
Regarding technical analysis:
In the short term, I still emphasize the downward trend for the day as the resistance level has pushed this currency pair lower, with an expected decline to 149.89. After that, we will observe this support level, which may act as a catalyst for pushing this pair higher. What is your perspective? Do you agree with me?
Regarding the news:
In its monetary policy decisions, the Bank of Japan (BoJ) has kept interest rates at -0.1%, as expected by market participants. This is favorable for the USDJPY pair.
The Japanese economy is striving to maintain inflation consistently above 2%, but price pressures are coming from external factors. BoJ is concerned about comfortably achieving the 2% inflation target through higher wages and continuing its stance of expansionary policies, which is crucial.
Regarding technical analysis:
In the short term, I still emphasize the downward trend for the day as the resistance level has pushed this currency pair lower, with an expected decline to 149.89. After that, we will observe this support level, which may act as a catalyst for pushing this pair higher. What is your perspective? Do you agree with me?
Trade active
Trade closed: target reached
Related publications
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.