USD/JPY: Time for Retracement
Updated
Fundamental Analysis:
it is evident that the Japanese yen (JPY) is experiencing a period of weakness, partly influenced by decisions made by the Bank of Japan (BOJ). The BOJ's decision to refrain from increasing interest rates to positive levels despite the gradual decline in inflation in Japan has contributed to this weakening trend. However, it is crucial to consider other global events that could potentially impact Japan's economy in the future
Technical Analysis:
In terms of technical analysis, the USD/JPY currency pair has undergone a significant bullish wave, with the price encountering a substantial rejection at the strong pivot level around 145. I firmly believe that, following a minor retracement, the price has the potential to reach my target of 0.618% fibbo
Targets: 143.600, 142.600
USDJPY
"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
it is evident that the Japanese yen (JPY) is experiencing a period of weakness, partly influenced by decisions made by the Bank of Japan (BOJ). The BOJ's decision to refrain from increasing interest rates to positive levels despite the gradual decline in inflation in Japan has contributed to this weakening trend. However, it is crucial to consider other global events that could potentially impact Japan's economy in the future
Technical Analysis:
In terms of technical analysis, the USD/JPY currency pair has undergone a significant bullish wave, with the price encountering a substantial rejection at the strong pivot level around 145. I firmly believe that, following a minor retracement, the price has the potential to reach my target of 0.618% fibbo
Targets: 143.600, 142.600
USDJPY "Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
Note
one the TP reachedTrade closed: target reached
all TP reached
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.