USDJPY Long Forecast Monetary Policy Statement

Fundamental Backdrop 
1. The Bank of Japan left interest rates unchanged, showing a very big interest rate differential between JPY and USD, weakening the JPY. 
2. There are also signs that inflation has sustained above BOJ’s 2% target. 

Technical Confluences 
1. The overall bias for USDJPY on the H4 chart is bullish . To add confluence to our bias, price is above the Ichimoku cloud . 
2. Near-term resistance at 137.600. 
3. Minor support at 136.000. 

Idea 
With my bias on the USD to still be bullish , combined with the weak fundamental backdrop on JPY, I expect price to head towards the near-term resistance at 137.600. #OPINIONLEADER#