USDJPY on the spot line:
BOJ Interest rate Decision + Statement.
Weekly Chart: Main resistance at 102.70, two trend lines form Triangle Pattern.
IF USDJPY breaks :
- Upper trend line + main resistance level: You can LONG U/J to 104
- Lower trend line: Potential down to 101.
We should listen carefully what BOJ says, about impact of tax hike, consumer spending, future monetary policy.
And don't forget FOMC tomorrow, it will provide catalyst for U/J to rally.
BOJ Interest rate Decision + Statement.
Weekly Chart: Main resistance at 102.70, two trend lines form Triangle Pattern.
IF USDJPY breaks :
- Upper trend line + main resistance level: You can LONG U/J to 104
- Lower trend line: Potential down to 101.
We should listen carefully what BOJ says, about impact of tax hike, consumer spending, future monetary policy.
And don't forget FOMC tomorrow, it will provide catalyst for U/J to rally.