Overall, USD/JPY is ranging across. Recently, USD/JPY broke the resistance zone of 114.200.
The Bank of Japan (BoJ) will be announcing their monetary policy decision later at an undisclosed timing. The central bank is expected to hold monetary policy unchanged. Focus on the quarterly outlook report to see if the BoJ carries out any revision to its inflation projection. Any upwards revision may lead to a strengthening of JPY.
Also, a press conference will be held shortly after the announcement. During this time, there may be volatility in JPY.
USD/JPY’s next support zone is at 114.200 and the next resistance zone is at 116.000.
If the BoJ rises their projection for inflation in Japan, look for short-term selling opportunities of USD/JPY if it breaks the support zone of 114.200.
The Bank of Japan (BoJ) will be announcing their monetary policy decision later at an undisclosed timing. The central bank is expected to hold monetary policy unchanged. Focus on the quarterly outlook report to see if the BoJ carries out any revision to its inflation projection. Any upwards revision may lead to a strengthening of JPY.
Also, a press conference will be held shortly after the announcement. During this time, there may be volatility in JPY.
USD/JPY’s next support zone is at 114.200 and the next resistance zone is at 116.000.
If the BoJ rises their projection for inflation in Japan, look for short-term selling opportunities of USD/JPY if it breaks the support zone of 114.200.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.