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MHMarkets

Yen under pressure of Wages Rising

U.S. Dollar / Japanese Yen (FX:USDJPY)  
MHMarkets Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Candlestick Analysis Fundamental Analysis Trend Lines
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Bank of Japan (BoJ) Governor Kazuo Ueda speech summary on Monday (06.11.2023)
- Need to have more conviction that wages will keep rising , rising wages lead to service prices and the economy remains strong, to ponder exit from easy policy
- There will always be new information coming in , so at any meeting there is a chance of making a certain decision
- BoJ foreseeing inflation sustainably hitting 2% target at the next policy meeting in December

Expecting some bearish retrace momentum till the level of 148.500 which targeting the Sellside Liquidity below if current price action respected the previous volume imbalance but must aware of Dollar Index momentum which is still within bullish trending momentum with bear retrace candles

Be Safe and Good Luck to All Traders . . . . .

Comment:
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If current price action respected the previous SIBI of Nov 02 2023 , price action will have more potential to go Bearish but must aware of Bullish Trending Momentum . .
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