BIAS: BULLISH 🔺
TECHNICAL PROJECTION: BULLISH 🔺
We have a bullish bias that price will rise to 137.
Once there is upside confirmation, bullish momentum is expected to carry to 141 target.
AREAS OF INTEREST:
H4 time frame, break of resistance at 137
H4 time frame, support at 134.225 - attempting to catch the bullish "E" wave
FUNDAMENTAL PROJECTION: JPY WEAK
B.O.J remains on its dovish path as the central bank has:
Kept all policy settings unchanged at their June meeting & stated that rates will stay low for the foreseeable future and won’t hesitate to add stimulus if the economy needs it.
The next central bank meeting will be on 21 July 2022 - which may be forced to change its economic outlook to a more hawkish stance.. but only time will tell!
TECHNICAL PROJECTION: BULLISH 🔺
We have a bullish bias that price will rise to 137.
Once there is upside confirmation, bullish momentum is expected to carry to 141 target.
AREAS OF INTEREST:
H4 time frame, break of resistance at 137
H4 time frame, support at 134.225 - attempting to catch the bullish "E" wave
FUNDAMENTAL PROJECTION: JPY WEAK
B.O.J remains on its dovish path as the central bank has:
Kept all policy settings unchanged at their June meeting & stated that rates will stay low for the foreseeable future and won’t hesitate to add stimulus if the economy needs it.
The next central bank meeting will be on 21 July 2022 - which may be forced to change its economic outlook to a more hawkish stance.. but only time will tell!
Comment:
+160 pips up
+70 pips in profit from area of interest