Thu, Dec 08, 2022 @ 07:37 GMT
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USD/JPY Gains Traction as BOJ Sticks to Ultra-loose Monetary Policy

The jumped vs yen on Friday after BoJ left its ultra-loose monetary policy unchanged, retracing 38.2% of post-intervention pullback from 32-year high at 151.94, which found footstep at 145.10 on Thursday.

Doji morning star reversal pattern is forming on daily chart, but will require confirmation on sustained break above 147.21 pivot of 151.94/145.10 pullback.

Daily techs support the action as bullish momentum is rising and Tenkan-sen / Kijun-sen remain in bullish configuration, with potential bear-trap under 30 DMA to add to positive signals.

Close above Fibo barrier at 147.21 to generate initial signal, while extension above 10DMA (148.30) would strengthen near-term structure and open way towards psychological 150 barrier.

Fresh bulls see today’s close above rising 20DMA (147.05) as a minimum requirement to remain in play.

Res: 147.86; 148.30; 148.52; 149.33.
Sup: 147.05; 146.85; 146.02; 145.10.

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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