The USDJPY correction is coming to an end H4 26.09.2024

2024年9月26日

The USDJPY correction is coming to an end

The yen is now forming a correction and the price has hit the marginal resistance zone around 145. From it I expect a bounce down to test the lower boundaries. Also, there was a rotation in the area of the zone in the past and periodically rebounds were made. Therefore, there is a probability that this time they will be able to bounce down at least locally. I don't see the options falling further than 139, but I aim for 140 approximately.

USDJPY

2024年9月27日

交易進行

Pullback #USDJPY

Gave you an analysis of the yen on Thursday and showed that around 145 I expect a drop into the 140 area. Price made a small yen style manipulation to 146.50 and at 146.35 poured large point volume on ask (limit selling). The reaction was quick and flew straight to 1/2 margin under 143.40, where I fixed a small part of the sales. I plan to hold the rest on a retest of the low of 140.
Japan's ruling party has chosen Shigeru Ishiba as its next leader, nominating a supporter of NATO and tightening of the DKP as Prime Minister. Therefore, in the coming months we may see another rate hike by the Japanese Central Bank and a stronger yen (falling USDJPY).

2024年10月3日

註釋

the volume went up and I got blown out by BE. There are no new conditions for entry and no new volumes yet.