USDJPY has broken the trendline drawn from it's high in Oct22 and joining LHs. It was well supported at 50% fib level of the run-up it had in last two years (low of Jan-21 and high of Oct-22). Currently it is trending in a triangle formation with a very narrow trading range, but with a bullish bias. Today's FOMC will offer the move and possibly it will be upwards. On HTF first hurdle can be seen at 133 and crossing above will bring 140 on the cards.
Yen had rallied significantly against USD on the expectation of BoJ to tighten their ultra lose policy after the tweak in the yield curve tolerance band in Dec-22. BoJ failed the market expectation in it's next meeting and it was status quo on both fronts. It will put back the Yen on it's trajectory we have seen last year.
Yen had rallied significantly against USD on the expectation of BoJ to tighten their ultra lose policy after the tweak in the yield curve tolerance band in Dec-22. BoJ failed the market expectation in it's next meeting and it was status quo on both fronts. It will put back the Yen on it's trajectory we have seen last year.