The Bank of Japan is debating whether or not to boost the yen against the US dollar in order to prepare for a rate rise. Because of this, the Bank of Japan’s meeting on Tuesday will have a great deal of significance for the economy. The price is expected to fall below the support level of 113.63 in the near future. After USDJPY tests the level of 114.51, where the SELL-area is situated, it will continue its decline to this level. True breakthrough from here would be a very powerful sell signal, and we can anticipate one. The Stop Loss order is thus set above the price of 114.51.
The price is trading above the Pivot Point of 114.78, which is located at 114.50 and 115.09, respectively. The ascending channel’s EMA 10 is advancing with a bullish bias and has crossed both the EMA 100 and the EMA 200. Both the 100 and 200-period EMAs are moving horizontally. When the RSI is around the 50 level, the MACD histogram moves into the green zone. An oversold Stochastic is in motion. In other words, there is a sell signal coming from the ADX at this time. the Ichimoku Cloud and Chinkou Span are a long way away from market value. A bullish trend may be seen in both the Tenkan- and Kijun-sen indicators.

• There is resistance at 115.09, followed by resistance at 115.37and 115.68.
• There is support at 114.50 Below, there is 114.19 and 113.91.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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