25th March 2024 - Weekly Market Report with Andrew Lockwood

This is a pure risk/reward play as USD/JPY moves into Bank of Japan intervention territory. The BOJ has been vocal in the past that they will do whatever is necessary to support the Yen. They have intervened several times in the past. The BOJ recently hiked their interest rates which saw the JPY fall another 2%. If they were to intervene in the markets we could expect to see a sharp snap lower for the paid. If they don’t, the potential will always be there. This pair could grind higher but any big moves are skewed to the downside. On a risk-reward basis this pair is a sell.
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[@ambiencelectronica]

What is that momentum indicator called please.

[@thecitytraderscom]

its called momentum meter