TriumphFX – Forex Analysis – JPY Pairs – January, February & March 2022
Previous analysis… https://analysis.tfxi.com/2021/10/18/triumphfx-forex-analysis-jpy-pairs-october-november-december-2021/
AUDJPY – Daily Chart
As suggested in our last JPY chart analysis, the AUDJPY reversed around 78.85 and continues to be indecisive.
Price is lacking trend direction and is indecisive. The moving averages confirm the market indecision – they are tight and are moving sideways.
Trading opportunities may exist around the moving averages and around the identified horizontal levels at 78.15, 78.85, 81.80 and 85.90.
The Reserve Bank of Australia (RBA) continues to keep the official interest rate at the record low of 0.10%. The rate is could stay the same for the near future – possibly until 2024. The RBA are expecting an economic bounce back during 2022. Inflation pressures in Australia seem to be less than in other countries.
The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.
CADJPY – Daily Chart
The CADJPY has been bullish and has swung higher, as suggested in our previous JPY pair analysis.
Price is up-trending and is currently in a retrace move. The moving averages are tight but still bullish, suggesting that the CADJPY may attempt another bullish move.
Opportunities to go long could exist around the horizontal levels at 87.65, 85.55, 85.10 and 82.05. A bullish move may stall or reverse around the moving averages and around the horizontal resistance levels at 91.15 and 92.75.
The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.
The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to continue to improve. A rate increase is currently expected mid-2022. Inflation targets continue to be a priority and the BOC expect inflation to continue to be elevated during 2022.
EURJPY – Daily Chart
As suggested in our last chart analysis, price has been bullish.
EURJPY is now looking indecisive again – price action has been sideways. The moving averages are also sideways – confirming the market indecision.
Trading opportunities may exist around the daily moving averages and around any of the horizontal levels at 125.15, 127.50, 130.60, 133.45 and 134.00.
The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They believe that the current spike in inflation is transitionary.
The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.
GBPJPY – Daily Chart
Price has been moving sideways, as suggested in our previous analysis.
GBPJPY continues to be indecisive and lack trend direction. The moving averages confirm the market indecision – they are tight and are moving sideways. Price is ranging between 148.90 and 158.10.
Trading opportunities could exist around the support and resistance areas of the range and if GBPJPY moves out of the range (break-out trade). Trading opportunities could also exist around the horizontal levels at 152.40 and 156.00.
The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.
The Bank of England (BOE) have increased it’s official bank rate to 0.25%. Inflation is a concern. The UK Unemployment rate is expected to fall.
USDJPY – Daily Chart
As suggested in our last JPY chart analysis, the USDJPY has been bullish and up-trending.
Price is clearly up-trending – price action has formed a long series of higher swing highs and higher swing lows. The daily moving averages are bullish and widening, suggesting that the uptrend could continue. The USDJPY is currently ranging though (112.75-115.35), signalling market indecision.
Long opportunities may exist around the dynamic support of the moving averages and around any of the identified horizontal levels at 112.75, 111.60, 110.75, 109.00 and 107.85. A bullish move could be rejected or reverse around the range resistance area at 115.35.
The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is making a steady but moderate recovery from the COVID crisis.
The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The Fed will be cautious about raising rates, especially with the current Omnicron breakout.
Start trading today with Triumph’s Forex MT4 trading platform – https://www.tfxi.com/
Hits: 3