| Trade Idea USD/JPY intraday: under pressure. |
Pivot: 78.35.
Our Preference: SHORT positions @ 78.3 with 77.95 & 77.7 in sight. Alternative scenario: The upside penetration of 78.35 will call for 78.5 & 78.75. Comment: the pair stands below its new resistance and remains under pressure. |
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The yen returned to its strength once again, making gains against the greenback. New QE from the BOJ didn’t help. Household Spending, inflation data, and Retail sales are the main events this week.
Last week Last week The Bank of Japan followed the U.S. Federal Reserve initiative and declared a new stimulus plan. The weakening global demand forced the BOJ to expand its asset purchase program by 10 trillion yen to a total of 80 trillion yen, in an effort to stimulate its economy. Will this step help Japan to stay afloat in these times of global uncertainty?
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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