📉 USD/JPY Continuation Of Declines? 📉

2023年1月17日

📉 USD/JPY Continuation Of Declines?

📉 Nearest strong support zone: around recent lows.

📉 Nearest strong resistance zone: around recent local highs.

📉 Technical environment:

- Moving averages: Downtrend

- MACD: Uptrend

- RSI: Downtrend

📉 Price Action: USD/JPY It has been continuing its downward trend for quite some time, all due to the BOJ's change in monetary policy stance, on January 18 during the Asian session there will be a Monetary Policy Statement which I think will have a big impact on the market, expect high volatility, in my opinion this will be the next impetus for the Japanese yen to strengthen against other currencies.

📉 The scenario I am playing out is a continuation of declines over the coming months. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

📉 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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