Our trade relies on fundamental analysis, and technical analysis only serves as our entry point.
Currently, the US is undergoing a process of quantitative tightening. Today we have the FOMC meeting, expecting to result in a 25 basis point rate increase.
A rate increase of 50 basis points or continued rate hikes would be seen as a hawkish signal.
Most likely it will result as expected considering the data history , but we will keep an eye on FOMC Press Conference where we will see a high volatility and the deciding factor on where the prices will go.
Meanwhile, Japan is maintaining its monetary easing policy, and the new BOJ governor, Ueda, announced in a recent speech that they plan to slowly continue their yield curve control to support a healthy economy.
This has led us to take a long-term dovish stance on the JPY.
Shifting our focus to the technical analysis,
We are currently awaiting a retracement to the 61% Fibonacci level.
However, we should remain vigilant as there is a possibility that the price may break and reject till the 134.1 level.
RSI Upward divergence in the lower timeframes.
Currently, the US is undergoing a process of quantitative tightening. Today we have the FOMC meeting, expecting to result in a 25 basis point rate increase.
A rate increase of 50 basis points or continued rate hikes would be seen as a hawkish signal.
Most likely it will result as expected considering the data history , but we will keep an eye on FOMC Press Conference where we will see a high volatility and the deciding factor on where the prices will go.
Meanwhile, Japan is maintaining its monetary easing policy, and the new BOJ governor, Ueda, announced in a recent speech that they plan to slowly continue their yield curve control to support a healthy economy.
This has led us to take a long-term dovish stance on the JPY.
Shifting our focus to the technical analysis,
We are currently awaiting a retracement to the 61% Fibonacci level.
However, we should remain vigilant as there is a possibility that the price may break and reject till the 134.1 level.
RSI Upward divergence in the lower timeframes.
Comment:
buy limit has been activated
Comment:
likely a trend rejection by a Doji candle
Comment:
Daily Support zone still valid
Comment:
Support and Trend rejection in the 4h timeframe
Comment:
Double bottom's neckline has been broken.
Trade closed: stop reached:
Total Risk: 1%
Total profit: -1%
Total profit: -1%
Comment:
initial jobless claims data was worse than expected
Comment:
Still, i will be looking for a buy,
I will be waiting for a rejection around this level.
I will be waiting for a rejection around this level.
Comment:
update on my new USDJPY position
-today's NFP data came out better tan anticipated
-Powell speech was hawkish
which is good for the dollar
-today's NFP data came out better tan anticipated
-Powell speech was hawkish
which is good for the dollar
Comment:
update on the trade
Comment:
update :
Comment:
moved SL
Trade closed: target reached:
hit TP, 5.03 RR
