Hello!
Tonight is the turn of the BOJ. What to expect?. Many think an expansion of QE. Yesterday the Fed has not raised interest rates, but the monthly industrial production in Japan was much better than expected. Also expand the QE still would mean going to have a monstrous budget. So the most likely thing is that they do nothing, waiting for the moves of the Fed and ECB in December. This may support the yen.
Graphically continuous range and if we look at the daily we see the levels where it can really leave a great movement. For long we have to break 122, to go short you have to break the support at 120 to 118 and even more.
The 4h shows us well the box in which it is closed the price, which by good chance to swing-trading to its lowest and the highest.
The H tells us to be careful: the start of a compression of the price which could make a nice move after the BOJ. But I do not think that will be enough to break the range that, in my opinion, will continue for a while yet.
Have a nice day!
Tonight is the turn of the BOJ. What to expect?. Many think an expansion of QE. Yesterday the Fed has not raised interest rates, but the monthly industrial production in Japan was much better than expected. Also expand the QE still would mean going to have a monstrous budget. So the most likely thing is that they do nothing, waiting for the moves of the Fed and ECB in December. This may support the yen.
Graphically continuous range and if we look at the daily we see the levels where it can really leave a great movement. For long we have to break 122, to go short you have to break the support at 120 to 118 and even more.
The 4h shows us well the box in which it is closed the price, which by good chance to swing-trading to its lowest and the highest.
The H tells us to be careful: the start of a compression of the price which could make a nice move after the BOJ. But I do not think that will be enough to break the range that, in my opinion, will continue for a while yet.
Have a nice day!