USD/JPY Gains Ground: BOJ's Adachi Comments Spark Reversal
The USD/JPY pair reached a more than two-month high against the US Dollar on Wednesday, propelled by comments from Bank of Japan (BOJ) board member Adachi. He stated that the economy has not yet reached a point where the central bank can discuss an exit from its ultra-easy monetary policy. This, combined with a modest USD rebound from its lowest level since August 11, contributed to the USD/JPY pair recovering around 50-60 pips from the 147.00 area. Observing an AB=CD pattern, the price initiated a reversal between the 1.13 and 1.272% area, suggesting a potential retracement. Our outlook leans toward a retracement of the USD against the JPY pair.
Our preference
Long positions above 146.00 with targets at 148.50 & 149.50 in extension.
The USD/JPY pair reached a more than two-month high against the US Dollar on Wednesday, propelled by comments from Bank of Japan (BOJ) board member Adachi. He stated that the economy has not yet reached a point where the central bank can discuss an exit from its ultra-easy monetary policy. This, combined with a modest USD rebound from its lowest level since August 11, contributed to the USD/JPY pair recovering around 50-60 pips from the 147.00 area. Observing an AB=CD pattern, the price initiated a reversal between the 1.13 and 1.272% area, suggesting a potential retracement. Our outlook leans toward a retracement of the USD against the JPY pair.
Our preference
Long positions above 146.00 with targets at 148.50 & 149.50 in extension.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.