25.09.201808:16 Forex Analysis & Reviews: Trading plan for 25/09/2018

On Tuesday, the 25th of September, the event calendar is light in important data releases. During the London session, Germany will post Wholesale Price Index data and during the US session, the US will present Consumer Confidence and Richmond Fed Manufacturing Index data. There is a speech from Member of the Executive Board of the ECB Benoit Coeure scheduled for 12:00 pm GMT

USD/JPY analysis for 25/09/2018:

At 11:50 pm GMT, a summary of the last meeting of the Bank of Japan was published. The minutes usually come out late, at least a month after the meeting, but give detailed insight into the Bank of Japan's monetary policy decision-making process. The global investors did not learn much new, the importance of the minutes dropped slightly when Kuroda started publishing a summary of the bank members' opinions a few days after each meeting.

Several BOJ members stated that further guidance for the future should be established and their commitment to achieving the price target should be strengthened. Some bankers are of the opinion that flexible control over long-term bond yields will improve the functioning of the market. One member is in favor of raising this profitability because it can increase the sustainability of the current policy.

Let's now take a look at the USD/JPY technical picture at the H4 time frame. The marker is still moving inside of the channel and made a new local high at the level of 112.97 overnight. The next target for bulls is seen at the level of 113.17. The immediate support is seen at the level of 112.40-112.50. Strong momentum is supporting the bullish bias.