Japan are to revise statement with central bank to water down price target(source Reuters). If this is the case this is significant and i would expect the JPY to continue its trand up against the US dollar, taking out weekly and monthly highs and targeting the purple box which is the first area of confluence. This sits just below the 22Q3 high and the 50% retace of the entire 2022 move down against the dollar.
Comment:
Target reached in just over 24 hours as the BOJ officially announces revision to statement
Comment:
Correction :
Change to BOJ statement caused the up move rather than an official change to joint Japan Gov statement decade old statement.
Change to BOJ statement caused the up move rather than an official change to joint Japan Gov statement decade old statement.