Analyzing USD/JPY Movement Post BOJ Policy Change
Tuesday, 2 April 2024, 17:15
USD/JPY Elliott Wave Analysis
Despite BOJ policy change, USD/JPY experiences a surge driven by a bullish triangle pattern indicating further potential gains. The current wave four triangle suggests upward momentum may continue, targeting 153.00 revealing a possible slowdown in bullish activity.
Key Points:
- BOJ Policy Change: Despite BOJ rate increase, JPY weakens.
- Bullish Triangle: USD/JPY exhibits a bullish triangle pattern, signaling more gains.
- Final Leg Up: Potential for USD/JPY to reach 153.00, where bullish momentum may slow down.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.