How To Make Money Today: Daily Market Analysis and Forex Trading Signals 30 March 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis and the trading strategy to use today. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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USD/JPY:

On the H4 timeframe, prices are on bearish momentum and abiding to a descending trendline. We see the potential for further bearish continuation from our 1st resistance at 122.381 in line with 61.8% Fibonacci retracement towards our 1st support at 121.167 which is in line with 38.2% Fibonacci Retracement. RSI is at levels where dips previously occurred.

Areas of consideration:

  • H4 time frame, 1st resistance at 122.399
  • H4 time frame, 1st support at 121.607
usdjpy technical analysis

On the back of the BOJ’s massive bond-buying program and a weaker DXY, the USD/JPY falls below 122.00.

  • On the BOJ’s limitless bond-buying program, the USD/JPY has fallen 2.8 percent from its new six-year high of 125.10
  • The attractiveness of safe-haven assets has waned as the risk-on drive has receded
  • The underperformance of Japan’s retail trade has been overlooked by investors.

On Wednesday, the USD/JPY had a bearish open rejection-reverse trading session, with the asset steadily moving upward after opening around 122.80. However, at 123.20, the major has seen strong offers as investors favor a’sell on rise’ strategy. At the time of publication, the pair was trading around its March 25 low of 121.18.

As the Bank of Japan (BOJ) strives to control bond rates by 25 basis points, the Japanese yen has gained wider strength since Tuesday. The Bank of Japan (BOJ) intends to purchase Japanese Government Bonds (JGB) until Thursday in order to prevent the yield curve from inverting. The BOJ has stated that it would purchase 600 billion yen in 3-5 year JGBs and 725 billion yen in 5-10 year JGBs to address the massive purchasing of JGBs. The BOJ is purchasing JGBs in large quantities in order to maintain its ultra-loose monetary policy and avoid signals of recession.

It’s worth mentioning that the underperformance of Japan’s Retail Trade, which is announced in early Tokyo, has gone unnoticed by investors. The annual Retail Trade result was published at -0.8 percent, which was somewhat better than the prior figure of -1.1 percent but much below the market forecast of -0.3 percent.

Meanwhile, the US dollar index (DXY) seems to be losing strength, with a drop below Tuesday’s low of 98.40 expected. The active risk-on urge that has accompanied the de-escalation of the Russia-Ukraine conflict has boosted investors’ spirits and helped them get off the defensive.

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