Hey Traders! 👋
For Day 31/100 of our challenge, we will look at USDJPY for upside potential this week/month
Technicals:
- Created a new high at 141.400 on break of 140.800
- Price retraced back to 140.200 to form support
- Also a pivot area and 62% fib retracement
- Looking to target 142.200
Fundamentals:
🇺🇸 Hawkish pause from Fed and a higher than expected forecast on peak rate causing investors to reassess their rate cut bets
🇯🇵 No changes in dovish policy stance today. Expect JPY to remain weak in the coming month unless any new catalysts says otherwise.
For Day 31/100 of our challenge, we will look at USDJPY for upside potential this week/month
Technicals:
- Created a new high at 141.400 on break of 140.800
- Price retraced back to 140.200 to form support
- Also a pivot area and 62% fib retracement
- Looking to target 142.200
Fundamentals:
🇺🇸 Hawkish pause from Fed and a higher than expected forecast on peak rate causing investors to reassess their rate cut bets
🇯🇵 No changes in dovish policy stance today. Expect JPY to remain weak in the coming month unless any new catalysts says otherwise.
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See you there! 👽🥂
See you there! 👽🥂