USD/JPY – Week 12 – Correction expected.
At its latest monetary policy meeting, the Bank of Japan extended the range of its target for the 10-year bond yield and only made moderate changes to its policy framework. They see no clear signs that a further policy adjustment is forthcoming.
This statement correlates well with our technical analysis for UJ, as we expect the price to continue ranging for next week. There is a slim chance that we may break the top once more and test the daily resistance level, but this will be short-lived, as the correction waits just around the corner.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
This statement correlates well with our technical analysis for UJ, as we expect the price to continue ranging for next week. There is a slim chance that we may break the top once more and test the daily resistance level, but this will be short-lived, as the correction waits just around the corner.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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