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Buy Opportunity on USDJPY
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Our trade relies on fundamental analysis, and technical analysis only serves as our entry point.
Currently, the US is undergoing a process of quantitative tightening. Today we have the FOMC meeting, expecting to result in a 25 basis point rate increase.
A rate increase of 50 basis points or continued rate hikes would be seen as a hawkish signal.
Most likely it will result as expected considering the data history , but we will keep an eye on FOMC Press Conference where we will see a high volatility and the deciding factor on where the prices will go.
Meanwhile, Japan is maintaining its monetary easing policy, and the new BOJ governor, Ueda, announced in a recent speech that they plan to slowly continue their yield curve control to support a healthy economy.
This has led us to take a long-term dovish stance on the JPY.
Shifting our focus to the technical analysis,
We are currently awaiting a retracement to the 61% Fibonacci level.
However, we should remain vigilant as there is a possibility that the price may break and reject till the 134.1 level.
RSI Upward divergence in the lower timeframes.
Currently, the US is undergoing a process of quantitative tightening. Today we have the FOMC meeting, expecting to result in a 25 basis point rate increase.
A rate increase of 50 basis points or continued rate hikes would be seen as a hawkish signal.
Most likely it will result as expected considering the data history , but we will keep an eye on FOMC Press Conference where we will see a high volatility and the deciding factor on where the prices will go.
Meanwhile, Japan is maintaining its monetary easing policy, and the new BOJ governor, Ueda, announced in a recent speech that they plan to slowly continue their yield curve control to support a healthy economy.
This has led us to take a long-term dovish stance on the JPY.
Shifting our focus to the technical analysis,
We are currently awaiting a retracement to the 61% Fibonacci level.
However, we should remain vigilant as there is a possibility that the price may break and reject till the 134.1 level.
RSI Upward divergence in the lower timeframes.
Ghi chú
buy limit has been activated Ghi chú
likely a trend rejection by a Doji candleGhi chú
Daily Support zone still valid Ghi chú
Support and Trend rejection in the 4h timeframeGhi chú
Double bottom's neckline has been broken. Đóng lệnh: dừng lỗ
Total Risk: 1%Total profit: -1%
Ghi chú
initial jobless claims data was worse than expectedGhi chú
Still, i will be looking for a buy,I will be waiting for a rejection around this level.
Ghi chú
update on my new USDJPY position-today's NFP data came out better tan anticipated
-Powell speech was hawkish
which is good for the dollar
Ghi chú
update on the trade Ghi chú
update :Ghi chú
moved SLĐóng lệnh: đạt mục tiêu
hit TP, 5.03 RR
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