Hello everyone!
USDJPY is trading quietly as it fails to break through the strong resistance level at 149.85, as the Bank of Japan (BoJ) is expected to release inflation forecasts for fiscal years 2023 and 2024 earlier than anticipated.
In terms of technical analysis:
- In the short term, I believe that the USD/JPY pair will fluctuate within a sideways range around the price level of 149.85 and 149.40, as the market seems to lack any significant volatility.
- In the long term, I believe that once it breaks out of this barrier, this currency pair will continue its positive trend with an expected increase towards 150.00.
USDJPY is trading quietly as it fails to break through the strong resistance level at 149.85, as the Bank of Japan (BoJ) is expected to release inflation forecasts for fiscal years 2023 and 2024 earlier than anticipated.
In terms of technical analysis:
- In the short term, I believe that the USD/JPY pair will fluctuate within a sideways range around the price level of 149.85 and 149.40, as the market seems to lack any significant volatility.
- In the long term, I believe that once it breaks out of this barrier, this currency pair will continue its positive trend with an expected increase towards 150.00.
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