USDJPY and EURUSD Technical Analysis

Dramatic drop in EUR/USD below the critical 1.17 level has opened the way for further steep losses in the pair although some consolidation either side of 1.17 is likely first.

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Overall inflation in Japan was up 0.2 percent on year in September, the Ministry of Internal Affairs and Communication said on Friday.

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The Federal Reserve interest rate decision may sway the near-term outlook for USD/JPY as the central bank prepares to normalize monetary policy.

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Consumer prices in Japan were up 0.5 percent on year in January, the Ministry of Internal Affairs and Communications said on Friday.

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The European Central Bank policy decision, and press conference, next week look set to be a particularly testing meeting for ECB President Lagarde as she tries to find a policy balance to dampen down rampant inflation while propping up a weak growth outlook. And this comes at a time when other major central banks are already or are fully prepared to, hike interest rates in ever-increasing increments.

Daily price is located below Ichimoku cloud in the bearish area of the chart. The price is testing 1.0864 support level to below for the strong bearish trend to be continuing with 1.0805 level as a nearest daily target. The daily bullish reversal resistance level is 1.1075, and if the price breaks this level to above so the primary bullish reversal will be started with 1.1184 as a neatest target to re-enter. Alternatively, the price will be on bearish ranging within the levels waiting for the direction of the strong trend to be started.

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USDJPY retraces the decline following the Federal Reserve interest rate decision as the Bank of Japan (BoJ) retains the Quantitative and Qualitative Easing (QQE) program with Yield-Curve Control (YCC), and developments coming out of the US may influence the exchange rate over the coming days as Chairman Jerome Powell is scheduled to testify in front of Congress.

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The Euro has steadily depreciated against a basket of major currencies since Dec. 2020. In the second quarter of 2022, European officials finally signaled a readiness to act as regional CPI inflation roared to record highs. It would go on to hit an eye-watering rate of 8.1 percent in May. The Euro found a floor and began to inch upward as rate hike expectations began to be absorbed into prices.

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Time Frame : 15,30.1hr
Pair:any
Buy Entry:when price cross moving average and candle close above moving average and volume must increase and stochastic above 50
sell entry : when price cross moving average and candle close below moving average and volyme must descline and stochastic below 50

The Japanese Yen is vulnerable to external forces with the Bank of Japan still expected to be one of the few remaining dovish central banks. Is it all clear for USD/JPY to keep rising then?
Weekly price is on strong bullish trend by breaking the bullish triangle pattern to above: if the resistance level at 137 is crossed by the price to above on close weekly bar so the strong bullish trend will be continuing, alternatively - the price will be on secondary ranging waiting for direction.

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So thank for great info and I'm sure that in december will be pump