ANALYSIS
NQ100 Finds Support from PPIApr 14
The Losses May Continue in USDJPY
In the past few days, consumer inflation in Japan climbed to an 8-year high with %3.0 on an annual basis in August. However, the Bank of Japan (BoJ) is expected to maintain its loose stance at tomorrow's monetary policy meeting. As a matter of fact, as the policy divergence with the FED continues, it is likely that the yen will have difficulty in finding demand against the dollar. In addition, with the expectation that the FED will continue its aggressive tightening at today's monetary policy meeting, the strong outlook of US bond yields weighs on developed country currencies. From this point of view, in the USDJPY parity, which continues its upward trend, if the 144.30 level is passed with pressure, the buying movements can extend to the 144.80 resistance indicated by the Fibonacci %61.8 exp line. In possible downward transactions, 143.35 and 142.85 supports can be followed.
