#ForexTrading
#FinancialMarkets
#TechnicalAnalysis
#USD
#DXY

As was expected .. 
#DXY has completed the final move of Wave C in the flat pattern and has now entered the bearish structure .. starting  an impulsive wave targeting to break the 100 USD barrier ..

The structure of the upcoming reversal wave serves as a confirmation of the forecast.

the Bank of Japan’s BOJ decision to raise the interest rate had an impact on the movement of the dollar today

 The BOJ increased the short-term interest rate from 0.25% to 0.5%, marking the highest level since the 2008 financial crisis. 

This decision followed an 8-1 vote, reflecting confidence in wage growth and sustained inflation near the 2% target.

 After the announcement, the Japanese yen experienced trading volatility before stabilizing with a 0.4% increase against the dollar. 

This rise in the yen’s value contributed to a decline in the value of the US dollar against major currencies. 

Additionally, the BOJ raised its core inflation forecast to 2.4% for the fiscal year 2025, signaling the potential for further interest rate hikes in the future. 

These expectations boosted the yen's strength against the dollar. 

Thus, the BOJ’s interest rate hike today directly contributed to the decline of the US dollar's value against the Japanese yen.
#ForexTrading #FinancialMarkets #TechnicalAnalysis #USD #DXY #DXY