CADJPY SHORT Safehaven Yen Currency
Updated
This is something that could possibly play-through around the FOMC rate decision, but this would seem an exceptional case that may or may not happen. So, instead, a shorter-term level around 86.25 could be looked to for higher-low support potential, and from shorter-term charts, we can see where there was a bit of gyration around 85.70-86.30 which can present an area of potential higher-low support for bullish continuation scenarios
Note
This is something that could play out around the FOMC rate decision, but it appears to be an outstanding case that may or may not occur. I Believed the oil drop on Thursday was merely a minor correction, and we anticipate more bullish movement in the near future. Also, A weaker yen helps boost the profits of Japan’s exporters while generating some upward pressure on prices via more expensive imports. As a result, for higher-low support potential, a shorter-term level may be considered.Note
The BOJ also said it would focus on buying ETFs from the TOPIX rather than the Nikkei 225.
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