USDJPY Poised for a Breakout
On the 4-hour chart, USDJPY is not yet taking a clear direction. The price is showing the possibility of both movements.
With the current data we can see that USDJPY is forming a triangle pattern and only the breakdown up or down will show the direction of the price.
However, I think the chances are higher for the bullish movement considering that the geopolitical tension in the Middle East is also very high and the USD remains one of the strongest currencies.
Bullish target: 147.90
Bearish target: 140.90
⚠️ Note: If the pattern transforms more than this triangle, then we may be in a different situation and everything may be invalid. The analysis may change over time.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
On the 4-hour chart, USDJPY is not yet taking a clear direction. The price is showing the possibility of both movements.
With the current data we can see that USDJPY is forming a triangle pattern and only the breakdown up or down will show the direction of the price.
However, I think the chances are higher for the bullish movement considering that the geopolitical tension in the Middle East is also very high and the USD remains one of the strongest currencies.
Bullish target: 147.90
Bearish target: 140.90
⚠️ Note: If the pattern transforms more than this triangle, then we may be in a different situation and everything may be invalid. The analysis may change over time.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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USDJPY - Bullish Outlook
Today, the Bank of Japan kept interest rates unchanged at 0.5%. Bank of Japan Governor Ueda commented that it is not appropriate to comment on the possibility of raising short-term rates.
The decision to raise interest rates will have to be based on many data and considerations. He said that uncertainties about the impact on the economy are still high even if tariffs are cut. The risks of trade policies distorting wage-setting behavior among firms cannot be ignored.
This is a clear message that the Bank of Japan wants a weaker JPY. One day they are supporting the strength of the JPY and the next day they are making negative comments raising questions about whether the JPY will ever get stronger under their monetary policy.
The price seems ready to break out of the pattern, increasing the chances of a larger wave of growth in the coming days.
Bullish target: 147.90
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.