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Finally, the Bank of Japan has raised interest rates for the first time in 17 years since 2008, discontinuing its negative interest rate policy. However, it is observed that the large interest rate differential between the United States and Japan continues, leading to a strengthening of the dollar against the yen. There is expected to be further volatility ahead of this week's FOMC meeting announcement.
BOJ raises interest rates from -0.1% to 0.00%
March 21st: FOMC meeting announcement
March 22nd: Speech by Fed Chairman Powell
The USDJPY chart is showing an upward trend, with a sharp rise supported by recent trends. Last week's US inflation index figures were higher than expected, and there is a strong expectation that the Fed may delay its interest rate cut policy at the March FOMC regular meeting. Furthermore, the weakening of the yen due to today's Bank of Japan's interest rate hike is contributing to the strength of the dollar. With current bullish factors in place, a steady rise is expected up to the 152 line, and if this level is surpassed, there is a high possibility of rising to the next resistance level.
The expected movements currently are:
Breaking through the 152 line to reach the upper trend resistance.
Short-term pullback as resistance at the 152 line, followed by a rebound and medium-term rise.
Pullback to the 152 line's resistance, then rebounding towards the lower trend line and medium to long-term rise.
With many issues this week, it is necessary to consider multiple variables. If there are unexpected movements, adjustments to the strategy will be made.
Please share your personal opinions in the comments. Booster and subscription requests are appreciated.
Finally, the Bank of Japan has raised interest rates for the first time in 17 years since 2008, discontinuing its negative interest rate policy. However, it is observed that the large interest rate differential between the United States and Japan continues, leading to a strengthening of the dollar against the yen. There is expected to be further volatility ahead of this week's FOMC meeting announcement.
BOJ raises interest rates from -0.1% to 0.00%
March 21st: FOMC meeting announcement
March 22nd: Speech by Fed Chairman Powell
The USDJPY chart is showing an upward trend, with a sharp rise supported by recent trends. Last week's US inflation index figures were higher than expected, and there is a strong expectation that the Fed may delay its interest rate cut policy at the March FOMC regular meeting. Furthermore, the weakening of the yen due to today's Bank of Japan's interest rate hike is contributing to the strength of the dollar. With current bullish factors in place, a steady rise is expected up to the 152 line, and if this level is surpassed, there is a high possibility of rising to the next resistance level.
The expected movements currently are:
Breaking through the 152 line to reach the upper trend resistance.
Short-term pullback as resistance at the 152 line, followed by a rebound and medium-term rise.
Pullback to the 152 line's resistance, then rebounding towards the lower trend line and medium to long-term rise.
With many issues this week, it is necessary to consider multiple variables. If there are unexpected movements, adjustments to the strategy will be made.