USDJPY Price Analysis
Updated
USDJPY Price Analysis
Following the FOMC interest rate decision, USDJPY surged nearly 350 pips. This movement is attributed to the robust US economy, as highlighted multiple times by Powell. Consequently, there is little reason for the USD to depreciate significantly.
Despite the Fed cutting rates by 50 basis points in yesterday’s meeting, the interest rate differential remains substantial.
Tomorrow, the BOJ will announce its interest rate decision. The market anticipates that the BOJ will maintain its current rates. This expectation is contributing to a weaker JPY, potentially leading to further gains in USDJPY.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Following the FOMC interest rate decision, USDJPY surged nearly 350 pips. This movement is attributed to the robust US economy, as highlighted multiple times by Powell. Consequently, there is little reason for the USD to depreciate significantly.
Despite the Fed cutting rates by 50 basis points in yesterday’s meeting, the interest rate differential remains substantial.
Tomorrow, the BOJ will announce its interest rate decision. The market anticipates that the BOJ will maintain its current rates. This expectation is contributing to a weaker JPY, potentially leading to further gains in USDJPY.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade closed: target reached
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