Hey Traders! ๐
For Day 31/100 of our challenge, we will look at USDJPY for upside potential this week/month
Technicals:
- Created a new high at 141.400 on break of 140.800
- Price retraced back to 140.200 to form support
- Also a pivot area and 62% fib retracement
- Looking to target 142.200
Fundamentals:
๐บ๐ธ Hawkish pause from Fed and a higher than expected forecast on peak rate causing investors to reassess their rate cut bets
๐ฏ๐ต No changes in dovish policy stance today. Expect JPY to remain weak in the coming month unless any new catalysts says otherwise.
For Day 31/100 of our challenge, we will look at USDJPY for upside potential this week/month
Technicals:
- Created a new high at 141.400 on break of 140.800
- Price retraced back to 140.200 to form support
- Also a pivot area and 62% fib retracement
- Looking to target 142.200
Fundamentals:
๐บ๐ธ Hawkish pause from Fed and a higher than expected forecast on peak rate causing investors to reassess their rate cut bets
๐ฏ๐ต No changes in dovish policy stance today. Expect JPY to remain weak in the coming month unless any new catalysts says otherwise.
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See you there! ๐ฝ๐ฅ
See you there! ๐ฝ๐ฅ