• Mar 18, 2024
  • Trade ideas

USDJPY Movement: Analyzing Breakouts and Policy Impacts

USDJPY - H4 Timeframe

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USDJPY broke a critical resistance level at 148.10, coinciding with the Fibonacci 38.2% level, indicating a rise to 149.30 on the golden Fibonacci ratio. However, potential Japanese monetary policy tightening could support the yen, leading the asset to fall to the 146.800 level on a fall below 148.100.

Trade: Buy USDJPY.

TP: 149.300

Sl: 148.000

Conclusion

In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.

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