Weekly Forecast

Hello traders! Well, this is purely based on my Analytical view. USDJPY has been showing quite a hawkish moves in the few months, in regarding current market conditions and its fundamentals. In this chart, we can see a recent rate decrease due to the last CPI Report which came out thursday carried most of jpys pair in a downtrend pushing the EUR up by increasing rates which leads to reduce the Dollar Index in the fight against inflation. With the persective on the current word market jpy could still show a upfrend in coming weeks and eur could still fall as the recession fears soars. But for the weekly chart produced in this content we well stand by to see few rejections by the retracement areas and pushing by only if it succeeds to break off those barriers.
Thanks.