The US vs JP 10y yield spread made a new nine-month high at 2.44% as the market keeps pricing in the passage of the US tax reform bill.
We see a selling pressure on Japanese Yen. Today, during the Asia Session, BoJ will have monetary policy meeting, but it is expected to change nothing.
Technical Overview:
On the daily chart, price moved above the cloud. Technical Indicators is telling us that Anka completed its midterm bearish bias.RSI moved into Bullish Territory. We probably will see the price testing 114.800 in a few weeks.
As seen on the H4 chart, the pair has completed its bearish action at the D leg 110.800 and headed North. It follows the rising trend line.
114.800 resistance will determine the direction of the USDJPY in 2018.
If USDJPY can break out 114.800, 115.500, 118.500 and 121.000 will be the targets of the pair.
We see a selling pressure on Japanese Yen. Today, during the Asia Session, BoJ will have monetary policy meeting, but it is expected to change nothing.
Technical Overview:
On the daily chart, price moved above the cloud. Technical Indicators is telling us that Anka completed its midterm bearish bias.RSI moved into Bullish Territory. We probably will see the price testing 114.800 in a few weeks.
As seen on the H4 chart, the pair has completed its bearish action at the D leg 110.800 and headed North. It follows the rising trend line.
114.800 resistance will determine the direction of the USDJPY in 2018.
If USDJPY can break out 114.800, 115.500, 118.500 and 121.000 will be the targets of the pair.
