Brian greets you all!
Today, due to the risk of important data, speculations that the Japanese government will intervene in the foreign exchange market to support the domestic currency may continue to act as a barrier to the USD/JPY pair.
The Japanese Minister of Finance reiterated this week that currency exchange rates must move stably, reflecting fundamental principles, and the government is ready to take necessary action to counter excessive volatility without ruling out any options. This, along with overall weak risk sentiment, could benefit the safe-haven Japanese Yen (JPY) and help limit the rise of the main currency.
Furthermore, there are signs of a breakout from the upward trend at the 148.8 level on the 4-hour analysis chart. Since the last time it broke through the resistance level at 147.77, this is the first significant decline for USDJPY.
This reflects a highly dangerous trading environment at present. USDJPY has failed to surpass the 150.00 level as expected and instead experienced a sharp decline. According to Brian, the 147.77 level may be retested before new fluctuations occur.
However, to ensure your own safety, you should be cautious when trading or stop your trading during this period before UJ's path is clarified.
Brian wishes you all good luck
Today, due to the risk of important data, speculations that the Japanese government will intervene in the foreign exchange market to support the domestic currency may continue to act as a barrier to the USD/JPY pair.
The Japanese Minister of Finance reiterated this week that currency exchange rates must move stably, reflecting fundamental principles, and the government is ready to take necessary action to counter excessive volatility without ruling out any options. This, along with overall weak risk sentiment, could benefit the safe-haven Japanese Yen (JPY) and help limit the rise of the main currency.
Furthermore, there are signs of a breakout from the upward trend at the 148.8 level on the 4-hour analysis chart. Since the last time it broke through the resistance level at 147.77, this is the first significant decline for USDJPY.
This reflects a highly dangerous trading environment at present. USDJPY has failed to surpass the 150.00 level as expected and instead experienced a sharp decline. According to Brian, the 147.77 level may be retested before new fluctuations occur.
However, to ensure your own safety, you should be cautious when trading or stop your trading during this period before UJ's path is clarified.
Brian wishes you all good luck
Commento:
You can ask any questions about the market, Brian is ready to help!
Trade attivo
Commento:
UJ is returning to the trend stopping at 149.23
