JPY index short view

Since the beginning of the year, the Japanese index in a bearish trend. The main resistance and trend indicators are the EMA 50-daily (white line) and the EMA 20-daily (purple line). The interest rate hike by the Bank of Japan did not bear fruit in strengthening the Japanese yen. The picture is still very bearish and we can expect a further pullback to the April low at 704.0.