💡 Ideas For USDJPY 🇺🇸🇯🇵
📈 Consolidating before the news...
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USDJPY has been in consolidation for a long time, correlating with the dollar. Traders are waiting for key news and are not ready to act early.
The currency pair is in the downward phase, which is a consequence of the strengthening of the Japanese yen on the background of the dollar's decline. The Central Bank of Japan actively considered the issue of raising rates, but postponed this step for later because of destabilized markets.
Today is an important report on inflation in the USA. So far, everything is going according to the Fed's plan. Markets are actively plotting the start of a Fed rate cut in September.
Technically, the bearish trend may continue, there is a huge pool of liquidity above 147.9, which may be liquidated before further decline.
Resistance levels: 147.9, 150.2, 150.86
Support levels: 146.29, 144.04
Technically and fundamentally we have prerequisites leading to a possible decline. We should wait for news to take some actions....
📈 Consolidating before the news...
———————————————
USDJPY has been in consolidation for a long time, correlating with the dollar. Traders are waiting for key news and are not ready to act early.
The currency pair is in the downward phase, which is a consequence of the strengthening of the Japanese yen on the background of the dollar's decline. The Central Bank of Japan actively considered the issue of raising rates, but postponed this step for later because of destabilized markets.
Today is an important report on inflation in the USA. So far, everything is going according to the Fed's plan. Markets are actively plotting the start of a Fed rate cut in September.
Technically, the bearish trend may continue, there is a huge pool of liquidity above 147.9, which may be liquidated before further decline.
Resistance levels: 147.9, 150.2, 150.86
Support levels: 146.29, 144.04
Technically and fundamentally we have prerequisites leading to a possible decline. We should wait for news to take some actions....
