Originally Updated: 06:55 GMT
Currency Pair: USD/JPY
Sentiment: Bullish
Market focus:
In today’s trade set up we will be focussing on short term buying opportunities on the USD/JPY.
Fundamentals:
The JPY plunged across the board reaching a six year low against the USD after the BOJ surprised the market with further easing, increasing their QE programme by 10 trillion YEN, as they push towards their target inflation rate of 2 percent.
With the Fed having a more hawkish outlook over the US economy following an improving labour market investors will be focussed on buying opportunities in USD/JPY.
Technicals:
We have a nice confluence zone at 109.95-109.85. This should offer short term support for any pullback.
Stop loss could be placed at 109.55
First take profit target: Open for now
Currency Pair: USD/JPY
Sentiment: Bullish
Market focus:
In today’s trade set up we will be focussing on short term buying opportunities on the USD/JPY.
Fundamentals:
The JPY plunged across the board reaching a six year low against the USD after the BOJ surprised the market with further easing, increasing their QE programme by 10 trillion YEN, as they push towards their target inflation rate of 2 percent.
With the Fed having a more hawkish outlook over the US economy following an improving labour market investors will be focussed on buying opportunities in USD/JPY.
Technicals:
We have a nice confluence zone at 109.95-109.85. This should offer short term support for any pullback.
Stop loss could be placed at 109.55
First take profit target: Open for now
At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.
Recommended Content
Editors’ Picks
AUD/USD hovers around 0.6500 amid light trading, ahead of US GDP
AUD/USD is trading close to 0.6500 in Asian trading on Thursday, lacking a clear directional impetus amid an Anzac Day holiday in Australia. Meanwhile, traders stay cautious due ti risk-aversion and ahead of the key US Q1 GDP release.
USD/JPY finds its highest bids since 1990, near 155.50
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, testing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming Japanese intervention risks. Focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold price treads water near $2,320, awaits US GDP data
Gold price recovers losses but keeps its range near $2,320 early Thursday. Renewed weakness in the US Dollar and the US Treasury yields allow Gold buyers to breathe a sigh of relief. Gold price stays vulnerable amid Middle East de-escalation, awaiting US Q1 GDP data.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Meta Platforms Earnings: META sinks 10% on lower Q2 revenue guidance Premium
This must be "opposites" week. While Doppelganger Tesla rode horrible misses on Tuesday to a double-digit rally, Meta Platforms produced impressive beats above Wall Street consensus after the close on Wednesday, only to watch the share price collapse by nearly 10%.