USDJPY: What's Next? 400 points as expected from the old analysi

USDJPY: What's Next? 400 points as expected from the old analysis

In this video, I shared with you my opinion on USDJPY.

Tomorrow we have the BOJ's decision on interest rates which will create price volatility in the market.
So let's get ready

You can watch the video for further details!
Thank you and Good Luck!

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Comment:

Comment:

🚨Breaking:
BoJ raises interest rate to 0%, abandons YCC

Bank of Japan (BoJ) board members decided to lift the interest rate by 10 basis points (bps) from -0.1% to 0% for the first time since 2007.
The central bank ended a negative interest rate era that began in 2016. The decision was in line with the market expectations.

The Bank of Japan (BoJ) has finally ended its eight-year reign of negative interest rates. USD/JPY surged above 150.50 after the decision. The problem for the Yen, however, is that volatility remains exceptionally low and the carry trade exceptionally popular.

A symbolic exit from the negative interest rate policy is unlikely to give the Yen much of a boost. After all, there have already been a number of exceptions to the negative interest rate policy, and the latest rate hike was only a few basis points. Only if the BoJ hints at further rate hikes, which would indicate a real rate hike cycle, will the Yen benefit more. Anything else has been priced in after the statements of the past few weeks.- as reported by FXstreet

Comment:

USDJPY - Time of Truth

The price violated 150.85 like the knife in the butter. All this movement was related to the FOMC that is still expected to share any hawkish signals through the Interst rate projection.
However the most important part of this movement was related to the fact that BOJ Increased rates after a long period of time but according to the market it was a rate hike followed by a dovish press conference.
All the movement created was on the wrong direction taking in consideration that BOJ took this decision after so many years and it is obvious that they will make more changes in the future.

Another problem that we have to be careful is that the USDJPY bull run may stop soon near to the current zone. It was a zone where BOJ reacted several times on the past by intervening in the market.
Probably BOJ may intervene today or tomorrow if the FED will push the price up during the FOMC meeting.

You may find more details on the chart.