GoodDay Traders!!
This daily chart shows that the price has risen above 188.95 and has been stopped by the market multiple times.
Every daily candle that has encountered resistance in this region over the last week is losing volume. We have to realize that as long as the BOJ does not intervene, it will be difficult for the JPY to strengthen.
It can take some time before the negative wave resurfaces in the price.
The price did not move above the pre-news high, even in spite of the BOJ's decision to leave the monetary policy statement unchanged.
More information may be found on the chart.
Regards and best of luck!
Would you kindly like this?
This daily chart shows that the price has risen above 188.95 and has been stopped by the market multiple times.
Every daily candle that has encountered resistance in this region over the last week is losing volume. We have to realize that as long as the BOJ does not intervene, it will be difficult for the JPY to strengthen.
It can take some time before the negative wave resurfaces in the price.
The price did not move above the pre-news high, even in spite of the BOJ's decision to leave the monetary policy statement unchanged.
More information may be found on the chart.
Regards and best of luck!
Would you kindly like this?