USDJPY Geometrical Technical Analysis and Fundamental Analysis
USDJPY reaches resistance level at 111.982 which is at the 0.236 fibonacci retracement level from October 2018 High to January 2019 low, the price of this pair is expected to go down towards 0.5 level at 109.422 or 0.618 level at 108.293. Next week is the end of the japanese holiday known as Goruden Wiku which has caused this pair to rise due to low liquidity in japan. Moreover, Prime Minister Shinzo Abe has delayed the increase of sales tax twice and Bank of Japan has pledged to maintain low interest rates.
News
Japan’s emperor Akihito prepares to abdicate, what’s known as the Heisei period -- Jan. 8, 1989, through April 30, 2019.
On May 1, Japan will get a new emperor, and a new era -- the Reiwa period -- will begin.
However, all this might go out the door ahead of what’s known as Golden Week, Goruden Wiku in Japan, the traditional weeklong holiday beginning April 29, as traders clamor for liquidity.
Prime Minister Shinzo Abe has pledged to proceed with a twice-delayed increase in the sales tax to 10 percent from 8 percent.
Under a forward guidance adopted in July last year, the BOJ pledges to keep rates very low for an “extended period.”
"Weak price moves continue but prices for processed foods are raising. If price hike moves expand, corporate and household inflation expectations will rise gradually," Kuroda said at the Trust Companies Association of Japan.
Kuroda, however, said that it will take time to achieve the 2% price stability target.
News
Japan’s emperor Akihito prepares to abdicate, what’s known as the Heisei period -- Jan. 8, 1989, through April 30, 2019.
On May 1, Japan will get a new emperor, and a new era -- the Reiwa period -- will begin.
However, all this might go out the door ahead of what’s known as Golden Week, Goruden Wiku in Japan, the traditional weeklong holiday beginning April 29, as traders clamor for liquidity.
Prime Minister Shinzo Abe has pledged to proceed with a twice-delayed increase in the sales tax to 10 percent from 8 percent.
Under a forward guidance adopted in July last year, the BOJ pledges to keep rates very low for an “extended period.”
"Weak price moves continue but prices for processed foods are raising. If price hike moves expand, corporate and household inflation expectations will rise gradually," Kuroda said at the Trust Companies Association of Japan.
Kuroda, however, said that it will take time to achieve the 2% price stability target.
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