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USDJPY 4 Hour ChartBoJ’s decision to hike rates and end the era of negative interest rates was not a surprise. Indications of a go-slow approach make this a dovish hike and the JPY has responded accordingly.’
USDJPY targeting 150.85 if it can stay above 150.24-50, with a stronger risk if above 150.57.
If I was in the BoJ’s shoes I would be lurking above 150.50 but only to smooth the move and prevent a full rout by defending 150.85(?).
Note prior USDJPY uodate was deleted in error.
USDCHF Analysis: Continued Upside Momentum and Key Resistance Levels
USDCHF has further advanced its upward trajectory from 0.8729 to reach a peak of 0.8884, encountering resistance at the previous high of 0.8892.
A breakout above this critical level would indicate a continuation of the uptrend that initiated from the low of 0.8332 on December 28, 2023, with the next target set at the 0.9000 area.
The initial support level to watch is at 0.8815. If the price breaks below this level, it could potentially trigger another descent towards 0.8700.
RE my weekly signal GBPUSD
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