The USDJPY correction is coming to an end
The yen is now forming a correction and the price has hit the marginal resistance zone around 145. From it I expect a bounce down to test the lower boundaries. Also, there was a rotation in the area of the zone in the past and periodically rebounds were made. Therefore, there is a probability that this time they will be able to bounce down at least locally. I don't see the options falling further than 139, but I aim for 140 approximately.
USDJPY
The yen is now forming a correction and the price has hit the marginal resistance zone around 145. From it I expect a bounce down to test the lower boundaries. Also, there was a rotation in the area of the zone in the past and periodically rebounds were made. Therefore, there is a probability that this time they will be able to bounce down at least locally. I don't see the options falling further than 139, but I aim for 140 approximately.
USDJPY Trade active
Pullback #USDJPY Gave you an analysis of the yen on Thursday and showed that around 145 I expect a drop into the 140 area. Price made a small yen style manipulation to 146.50 and at 146.35 poured large point volume on ask (limit selling). The reaction was quick and flew straight to 1/2 margin under 143.40, where I fixed a small part of the sales. I plan to hold the rest on a retest of the low of 140.
Japan's ruling party has chosen Shigeru Ishiba as its next leader, nominating a supporter of NATO and tightening of the DKP as Prime Minister. Therefore, in the coming months we may see another rate hike by the Japanese Central Bank and a stronger yen (falling USDJPY).
Note
the volume went up and I got blown out by BE. There are no new conditions for entry and no new volumes yet.
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FOREX|СМЕ - t.me/newwavetrade
Crypto - t.me/kovachcrypto
Crypto - t.me/kovachcrypto
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.