Hello Traders,
Once again we are here to give a idea about USDJPY technical analysis.
Some important things to note for the USDJPY.
1) BOJ is dovis about its ultra loose monetary policy to achieve pre COVID inflation target which leads USDJPY price skyrocket from 116 to 135.
2) Today at 23:30 IST FED is going to declare it's interest rate policy which is Hawkis view prev: 1% forecast: .50% which leads aggressive movment in USDJPY.
3) Later that BOJ will also declare it's interest rate policy which is same as before that is no change in that.
So overall USDJPY is still in bullish trend. But from the technical analysis oversold RSI of Weekly, monthly and daily shows sign that rally in USDJPY is overextended.
From my technical analysis prospect in weekly graph price is making higher high while RSI forming lower higher-highs which form a negative divergence.
Sell USDJPY@ 135-136.500
TARGET 1=> 134.500
2=> 134
3=> 133.800
4=> 133.200
5=> 132.300
SL ==> 137.000
Do your own research before taking trade this idea is only for education purpose. Happy trading to all 🤠.
Once again we are here to give a idea about USDJPY technical analysis.
Some important things to note for the USDJPY.
1) BOJ is dovis about its ultra loose monetary policy to achieve pre COVID inflation target which leads USDJPY price skyrocket from 116 to 135.
2) Today at 23:30 IST FED is going to declare it's interest rate policy which is Hawkis view prev: 1% forecast: .50% which leads aggressive movment in USDJPY.
3) Later that BOJ will also declare it's interest rate policy which is same as before that is no change in that.
So overall USDJPY is still in bullish trend. But from the technical analysis oversold RSI of Weekly, monthly and daily shows sign that rally in USDJPY is overextended.
From my technical analysis prospect in weekly graph price is making higher high while RSI forming lower higher-highs which form a negative divergence.
Sell USDJPY@ 135-136.500
TARGET 1=> 134.500
2=> 134
3=> 133.800
4=> 133.200
5=> 132.300
SL ==> 137.000
Do your own research before taking trade this idea is only for education purpose. Happy trading to all 🤠.