26072023 - #USDJPY

26 thg 7, 2023

Yesterday was another pullback day for USDJPY as price consolidate for the bigger move which could happen today with FOMC later at night. Again I was looking for an early move up during Asian session but when that did not happen, the converse happen; a pullback. Still, we saw the spike during US session which cleared the highs before crashing back down. One thing is telling is that, despite DXY going up so much during European session, USDJPY did not move up, showing JPY strength. And thus when DXY pulled back, you know what happens.

Price is now within the zones, capped by the PZ and just bounced off BZ. We had a slow up move. Will it continue? I think it will depends on the AU news happening at 930 which could move FX.

If you had seen my message in the group, AUD is at my sell level now (AUD is bullish despite weakness in EUR and GBP). Anyway, so, I am still bullish DXY IMO but will need to see how USDJPY might intact, and add on the break of PZ for the move to the target.

Overall, am looking for at most a slight pullback then up move, if this buy thesis is still intact. It is intact still (in terms of price action) unless proven otherwise.