Suppressed by strong resistance at 111.50
USD/JPY has failed 3 times to break out the resistance at 111.50, it's heavily suppressed by this resistance. Before BoJ's monetary policy meeting on tomorrow, the market keeps cautious on this pair, focusing on the forecast of Japan's economy in 2019 and 2020. If governor Kuroda released the signal that the monetary policy will be easing again, it's likely to break out 111.50 and further rise should be seen to 111.80 and 112.10 next. Otherwise, if it dropped below 110.30, the rebound from 106.85 should be confirmed to complete. The further decline should be seen to 111.20 and 110.90.
The target is 110.90
Turning point: 111.50.
Under 111.50, bearish , target price is set at 111.20, then 110.90.
Above 111.50, bullish , target price is 111.80,then 112.10.
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Prior Strategy:
The target is 110.90
Turning point: 111.50.
Under 111.50, bearish , target price is set at 111.20, then 110.90.
Above 111.50, bullish , target price is 111.80,then 112.10.
If you like the strategy, please click "AGREE" and follow me. Your trust is my biggest motivation.
Prior Strategy:
Comment:
Target Reached.