USD/JPY Weekly Analysis
"On Monthly:
This pair, Since 2021 has beeb Bullish. That is due to Monetary policy of Japan that it seems recently it slowely changing.
There are two Historical Rersistants (160.00 and 155.400) that have been touch, but not broken since 1997. BOJ always interfear with market once the price get to that level.
Last month on November, it hit 155.400 and got rejected and it made a Doji Bearish candle that can arguably called Shooting Star.
Price is close to 149.00 Psychological number as support in this case. If FED. don't raise the Interested Rate in the month of December, price most likely will bounce back up.
-- On Weekly:
It made an Evening Starcandle formation and a solid Engulfing candle twice as big of previous candle and it's landing at 149.00 Support.
The bearish move now is clear that mostlikepy will continue based on this time frame.
--On Daily:
It is confirming the Bearish move to 149.00 with all three EMA 200, 50 and 20 supporting it. We need to see how it behaves once it hit 149.00 and adjust our strategy.
-- On Hourly:
This time frame just shows the same analysis granually. It's consolidating / correcting to continue Bearish move with the support of all three EMAs."
This pair, Since 2021 has beeb Bullish. That is due to Monetary policy of Japan that it seems recently it slowely changing.
There are two Historical Rersistants (160.00 and 155.400) that have been touch, but not broken since 1997. BOJ always interfear with market once the price get to that level.
Last month on November, it hit 155.400 and got rejected and it made a Doji Bearish candle that can arguably called Shooting Star.
Price is close to 149.00 Psychological number as support in this case. If FED. don't raise the Interested Rate in the month of December, price most likely will bounce back up.
-- On Weekly:
It made an Evening Starcandle formation and a solid Engulfing candle twice as big of previous candle and it's landing at 149.00 Support.
The bearish move now is clear that mostlikepy will continue based on this time frame.
--On Daily:
It is confirming the Bearish move to 149.00 with all three EMA 200, 50 and 20 supporting it. We need to see how it behaves once it hit 149.00 and adjust our strategy.
-- On Hourly:
This time frame just shows the same analysis granually. It's consolidating / correcting to continue Bearish move with the support of all three EMAs."
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