📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
Since the start of November, USDJPY has been flirting with the 150-151 zone, a level never seen by the pair for more than 3 decades and everyone is wondering when the pair will reverse its path. The recent volatility suggests a top is near, however, considering its up spikes, setting a stop loss is quite difficult. With this in mind, I will continue to monitor this pair closely, but we will need a daily close under 150 for selling confirmation.
📊QUICK FUNDAMENTAL LOOK
The Japanese yen steadied around 150.6 per dollar and was set to finish the week higher as weaker-than-expected US economic data this week, led by a slowdown in inflation, bolstered bets that the Federal Reserve is done with its monetary tightening cycle.
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