USDJPY Framing for March Rate Hike Decision
USDJPY immediately relatively bearish, to potentially form an inverse H and S. After this, it might rise both due to Trump's upcoming tax plan and due to the potential for a rate hike. This is somewhat tentative though. Price action in these zone will be key.
If the dollar decides to go bearish for a little longer before looking forward to the possibility of a rate hike, this still could hit our original target of 111.300, so watch for a push down to a new low at that support point. If 111.600 wasn't our bottom, that zone should be it.
If the dollar decides to go bearish for a little longer before looking forward to the possibility of a rate hike, this still could hit our original target of 111.300, so watch for a push down to a new low at that support point. If 111.600 wasn't our bottom, that zone should be it.
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