Chart of the Day – USDJPY – (July 20th, 2023)
The post Chart of the Day – USDJPY – (July 20th, 2023) appeared first on ForexAnalytix - Blog.
USDJPY bear flag developing
The USDJPY stalled at the 38% retracement today at 140.25 which could be the top of the bear flag pattern. Also, the 50dma is also near the highs today as well. A move back below the 139.00 would suggest that the pair will revisit the 200dma and possibly lower. Also to note, the Bank of Japan meeting is next week and there is speculation of a possible change in Yield Curve Control (YCC) on the horizon which could strengthen the JPY.
Blake Morrow
Our “Chart of the Day” feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, click here to learn more. Trade our money, take 75% of the gains and none of the risk.
Steve Voulgaridis
The post Chart of the Day – USDJPY – (July 20th, 2023) appeared first on ForexAnalytix - Blog.
