USD/JPY: hope for BOJ hike and then sell the YEN
Fundamental Analysis
The Japanese Yen remains under pressure amid a dovish stance from the Bank of Japan (even if BOJ was to hike next week), while the U.S. Dollar has gained support from the Fed’s hawkish outlook and higher treasury yields. This divergence in monetary policy has continued to drive the pair upward. Basically by holding this pair long, you get paid, a lot. Traders know that.
Technical Analysis
Let's wait for price to pullback to After touching resistance near 153.30 which is at the same time: support, demand zone and it's located in between 0.5 and 0.618 (key) Fibo levels.
A bullish reversal here could set the stage for a retest of the previous highs, with a possible breakout toward 160.00.
Before entering, watch for confirmation via volume and RSI, which is currently approaching oversold territory.
👉 Follow me to stay updated on this idea and receive insights on potential entry points, stop-loss levels, and take profits! Let’s trade smarter together! 💹
The Japanese Yen remains under pressure amid a dovish stance from the Bank of Japan (even if BOJ was to hike next week), while the U.S. Dollar has gained support from the Fed’s hawkish outlook and higher treasury yields. This divergence in monetary policy has continued to drive the pair upward. Basically by holding this pair long, you get paid, a lot. Traders know that.
Technical Analysis
Let's wait for price to pullback to After touching resistance near 153.30 which is at the same time: support, demand zone and it's located in between 0.5 and 0.618 (key) Fibo levels.
A bullish reversal here could set the stage for a retest of the previous highs, with a possible breakout toward 160.00.
Before entering, watch for confirmation via volume and RSI, which is currently approaching oversold territory.
👉 Follow me to stay updated on this idea and receive insights on potential entry points, stop-loss levels, and take profits! Let’s trade smarter together! 💹
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