USDJPY (US Dollar/Japanese Yen) Currencies Analysis 26/04/2022Fundamental Analysis:
Japanese Prime Minister Fumio Kishida said on Tuesday. The government’s JPY13.2 trillion emergency relief package will help ease the pressure off households and companies from rising fuel and raw material costs.
Additional quotes
“The government will tap reserves set aside under the current fiscal year's budget to fund some of the measures that require fresh spending.”
“Will lay out by June action plan on steps to promote 'new style capitalism,' long-term fiscal and economic policy guideline.”
“Will compile an extra budget, aim to pass it through current parliament session.”
“Important to promote the use of nuclear power, renewable energy to stabilize energy market.”
“Will layout after upper house election comprehensive package of policies, including on energy, to promote change in Japan’s society.”
Technical Analysis:
We can clearly see that the Bearish Divergence of Price and MACD has Started Forming in 6H time frame and it is one of the biggest signs that the bullish Trend is reversing and we can see some Price Correction on this Forex Instrument.
we have defined 3 Targets using the Fibonacci Retracement Tools which we have forecasted the Price to fall.
please check the Forecast dates and exact Prices.
