Today's focus: USD/JPY - June 13, 2024

Wilson
Wilson
06-13

U.S. Inflation: May CPI is 3.3%, Core CPI is 3.4%. The November rate cut by the Federal Reserve is fully priced in by the market.

📰 US Inflation: May CPI at 3.3%, Core CPI at 3.4%. November rate cut by the Federal Reserve is fully priced in by the market.

💬 Federal Reserve Rate: Maintained at 5.25%-5.50%. Powell emphasized that despite some easing in inflation, more data is needed.

🏦 Bank of Japan: Decision tomorrow. Expected reduction in bond purchases may strengthen the yen.

🔍 Technical Analysis Highlights:

• Stochastic Oscillator (Daily): Bullish momentum is weak; the yen might appreciate.

• Resistance Levels (Daily): Watch for potential downtrends below the 65-day moving average and around the 78.6% retracement level.

• Stochastic Oscillator (1 Hour): Approaching overbought, indicating possible selling pressure.

• Rounded Top Pattern (1 Hour): Resistance at the neckline and the 65-period moving average may lead to further yen appreciation.

📍 Pivot Indicators:

• Pivot Price: 157.10

• Bullish Scenario: Above 157.10, targets are 157.45 and 157.75

• Bearish Scenario: Below 157.10, targets are 156.45 and 156.15

Follow Ultima Markets for the latest market insights!

Trading involves significant risk, and losses may exceed your principal.

#UltimaMarkets #TechnicalAnalysis #MarketAnalysis #USDJPY #USInflation #FedRate #BankofJapan #FederalReserveRate #BankofJapan

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

Wiki

Foreign Exchange Trading

Foreign exchange trading is a financial trading activity that seeks profit through the exchange rate differences between different countries' currencies. It is characterized by globalization, high liquidity, and leveraged trading. Participants include central banks, commercial banks, investment institutions, enterprises, and individual investors. However, it also involves potential risks such as market fluctuations and leverage risks.

Organization

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Contact Us

Social Media

Region

Region

Contact