Japan’s CPI hit a new high in decades. How is the USDJPY plan?
Investors are recommended to consider Marginal Short near 127.4. With Target 126.4, Stop Loss by 128.0.
Japan’s April CPI recorded an annual rate of 2.5% and the core CPI annual rate of 2.1%, both exceeding experts’ expectations, but Kuroda Haruhiko said the Bank of Japan will continue to maintain its aggressively loose monetary policy to keep inflation above its 2% target. The US dollar index has fallen below the 102 mark, and the yield of US bonds with a maturity of more than 2 years is in a downward trend. The US dollar may remain weak in the short term. The main idea of the USDJPY is from a bearish perspective.
From the daily range, the quotation is located at the lower track of Bollinger, indicating a bearish pattern, and the sub-indicator MACD bearish kinetic energy is strongly superimposed on the KD double-line passivation at a low level which is beneficial for investors to consider a bearish layout.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.