Trade of the Day - USDJPY
25 April 2022
Trend on general is more on uptrend. With the current rate of BoJ far lower than the Fed, in which will definitely remain as BoJ has no plan on increasing the interest rate.
Price right now coming close to the key zone price at 130.000. This price become important because BoJ stated that they will intervene if the current value of Yen come close to 130 yen per 1 dollar in order to prevent more devaluation of the Yen in the international market.
From this we can expect that it will be hard for USDJPY pair to break above the barrier of 130.000. Thus, we can find a good opportunity to short position near that level.