Chapter 44  USDJPY in uptrend


18/06/2023

Summary

The Interest Rate in the USD and Japan leads the market

Fundamental analysis

Fundamentally in this pair, We see the data released last few days in the USA the interest rate with no change at 5,25% Mr Paul the head of the Federal Bank Reserve said they might keep increasing the rate by 0.50 points more this year this makes the USD keep it strength on the other hand japan central bank keep the monetary policy unchanged with negative Interest Rate at -0.1% this will keep the JPY weak.

U.S. FOMC Interest Rate Cap (IOER)

Prev.: 5.25%

Act.: 5.25%

USDJPY in uptrend -Pic no.1

Japan Benchmark Interest Rate

Prev.: -0.1%

Act.: -0.1%

USDJPY in uptrend -Pic no.2

Technical analysis

In this 1-hour diagram chart, the market price now is 141.777, we expect the market to move down to the previous demand zone at 142.000  to create new higher lows and from there the price with turn back up to the oldest supply zone at 142.700 creating new higher highs with the 20-moving average pointing down.

Trading Recommendation

Trading Direction: Long

Entry Price: 140.595

Target Price: 142.575

Stop Loss: 139.602

USDJPY in uptrend -Pic no.3


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