Originally updated: 06.47am
Current Price: 119.39
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:
We are looking for buying opportunities on the USD/JPY today after the BOJ ended its final policy meeting for the year, confirming its pledge to continue its monstrous stimulus program as it targets a 2% inflation rate. Asian shares saw good follow through from yesterdays lucrative move in US equities with the MSCI Asia Pacific Index up 1.7%.
Technicals:
I expect this pair to continue its up move during the session, eventually hitting 120.50 or higher. If the market does retrace back down then there is a nice confluence zone of support that traders could use as a reference to buy from again.
The confluence zone is at 119.05-119.00
Stop loss could be placed at 118.65
Current Price: 119.39
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:
We are looking for buying opportunities on the USD/JPY today after the BOJ ended its final policy meeting for the year, confirming its pledge to continue its monstrous stimulus program as it targets a 2% inflation rate. Asian shares saw good follow through from yesterdays lucrative move in US equities with the MSCI Asia Pacific Index up 1.7%.
Technicals:
I expect this pair to continue its up move during the session, eventually hitting 120.50 or higher. If the market does retrace back down then there is a nice confluence zone of support that traders could use as a reference to buy from again.
The confluence zone is at 119.05-119.00
Stop loss could be placed at 118.65
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.
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