USDJPY Forecast And Technical Analysis US CPI Ahead
Fundmentals: Japan Capacity Utilization and Industrial Production figures released and made no significant effect on the pair.The market players will be focusing on US Inflation figures which will be released at 08.30.
Technically: Anka created doji candles on Monday and Tuesday indicating indecisive marketplace. The pair is trading between 113.600 ( Our second target of Bearish Shark ) and 114.200. It is well above EMA 50.
USDJPY finds buyers at 113.600. A close below 113.600 would confirm a short term reversal, however, fundamentals – Diverging policies of Central Banks – are limiting this bearish move.
Midterm overview of the pair is strongly bullish. Break above 114.250 would lead the price 114.500, 114.700 and 115.200.
Potential pullbacks towards 113.100 – 112.800 can be used as buying opportunities.
Technically: Anka created doji candles on Monday and Tuesday indicating indecisive marketplace. The pair is trading between 113.600 ( Our second target of Bearish Shark ) and 114.200. It is well above EMA 50.
USDJPY finds buyers at 113.600. A close below 113.600 would confirm a short term reversal, however, fundamentals – Diverging policies of Central Banks – are limiting this bearish move.
Midterm overview of the pair is strongly bullish. Break above 114.250 would lead the price 114.500, 114.700 and 115.200.
Potential pullbacks towards 113.100 – 112.800 can be used as buying opportunities.
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