Hey Traders! 👋
For Day 31/100 of our challenge, we will look at USDJPY for upside potential this week/month
Technicals:
- Created a new high at 141.400 on break of 140.800
- Price retraced back to 140.200 to form support
- Also a pivot area and 62% fib retracement
- Looking to target 142.200
Fundamentals:
🇺🇸 Hawkish pause from Fed and a higher than expected forecast on peak rate causing investors to reassess their rate cut bets
🇯🇵 No changes in dovish policy stance today. Expect JPY to remain weak in the coming month unless any new catalysts says otherwise.
For Day 31/100 of our challenge, we will look at USDJPY for upside potential this week/month
Technicals:
- Created a new high at 141.400 on break of 140.800
- Price retraced back to 140.200 to form support
- Also a pivot area and 62% fib retracement
- Looking to target 142.200
Fundamentals:
🇺🇸 Hawkish pause from Fed and a higher than expected forecast on peak rate causing investors to reassess their rate cut bets
🇯🇵 No changes in dovish policy stance today. Expect JPY to remain weak in the coming month unless any new catalysts says otherwise.
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.
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.