USDJPY → Japan's central bank is about to raise rates

20 Oca

USDJPY cannot continue its uptrend yet. Rumors about possible actions from the central bank of Japan will appear. The dollar in the meantime continues to rise....



158.46 is a rather strong resistance formed by the bears, who continue to put pressure on the market. This week, we expect active actions from the Central Bank of Japan, namely - raising interest rates. In general, this phenomenon is quite rare, but it can support the currency pair very well. If the Japanese decide to take such actions, the currency pair may continue the correction from 0.5 - 0.7 fibo. Priority targets in this case may be the zones of interest at 153.24, 151.94.

Resistance levels: 156.56, 157.22
Support levels: 155.1

Price fixing below 0.5 Fibo or below 155.95 may provoke aggressive selling. The decision on rates in Japan will take place on Friday, until then the price may be in consolidation....

Regards R. Linda!

23 Oca

İşlem aktif

False break of 0.5 fibo forms a good entry point