The net result of the Bank of Japan rate decision has been Yen-weakness, with USD/JPY initially showing an explosive move with a breakout beyond 145.00. That move couldn't hold, however, with an assist from the underside of a bullish trendline helping to cap the weekly highs, leading to a push back-below the 145.00 handle.
For next week there's remaining bullish structure, which a recent higher-low at 144.00 that bulls need to defend to retain control. But given the broader backdrop of USD-strength going into FOMC, USD/JPY has bullish continuation potential, with levels at 148.00 and 150.00 as the next significant waypoints overhead. - js
For next week there's remaining bullish structure, which a recent higher-low at 144.00 that bulls need to defend to retain control. But given the broader backdrop of USD-strength going into FOMC, USD/JPY has bullish continuation potential, with levels at 148.00 and 150.00 as the next significant waypoints overhead. - js
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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.