Big intervention from JPY
Based on fundamental data, it is to process an intervention on currency to improve overall economic conditions in their country.
In the technique analysis, I could tell that this is the big uptrend from Q3–Q4 2022. That means it will be a chance to have a correction wave to create a base for institutions to take their time and place their position in the market. I've used these techniques to analyze a short position order to capture a reverse trend: Elliott waves + Harmonic pattern + Support and Resistance (Volume profile) + Fibonacci.
But USDJPY still has a chance to go up and break all the rules until the BoJ next move.
In the technique analysis, I could tell that this is the big uptrend from Q3–Q4 2022. That means it will be a chance to have a correction wave to create a base for institutions to take their time and place their position in the market. I've used these techniques to analyze a short position order to capture a reverse trend: Elliott waves + Harmonic pattern + Support and Resistance (Volume profile) + Fibonacci.
But USDJPY still has a chance to go up and break all the rules until the BoJ next move.
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