The Bank of Japan (BOJ) finds itself caught in a precarious situation as it grapples with defending the weakening Japanese Yen (JPY). With global inflation on the rise and other central banks tightening monetary policy, the BOJ faces a difficult choice: intervene in the currency market or stick to its ultra-accommodative stance.
The Yen's depreciation stems from...
We can see a formation of a head and shoulder pattern which could lead to selling momentum. If the setup fails, we will look out for what price does on the next sone of resistance where we might likely see a double top fromation.
Hey traders, in today's trading session we are monitoring AUDJPY for a buying opportunity around 90.3 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
![GBPJPY: POUND - JAPANESE YEN SHORT [GBPJPY]](https://s3.tradingview.com/6/6Svz2QJQ_mid.png "POUND - JAPANESE YEN SHORT [GBPJPY]")
