Throughout tomorrow’s Asian buying and selling session, the Financial institution of Japan will announce its rate of interest determination (for extra particulars, see Key Financial Occasions of the Week 10/24/2022 – 10/30/2022).
Most definitely, the speed will stay on the identical degree of -0.1%. Furthermore, “tomorrow a call can be made on the financial stimulus package deal,” Japanese Finance Minister Shunichi Suzuki mentioned immediately.
As we famous in our Elementary Evaluation immediately, “USD/JPY stays constructive. Robust bullish momentum primarily based on fundamentals is pushing it to new all-time highs.”
Two sturdy help ranges at 145.58, 144.00 hold the pair from deeper corrective decline. Solely their breakdown will strengthen the unfavorable dynamics of the pair, sending it in the direction of the important thing help ranges 136.60, 133.00. In the primary situation, we count on progress to renew.
Help ranges: 145.58, 144.00, 140.00, 136.60, 133.00, 131.00
Resistance ranges: 147.04, 148.02, 149.00, 150.00, 151.00, 152.00
