AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70 
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
NZDJPY: Sell the Rallies as Bears Guard 90–91 Resistance Zone 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
FxWirePro- Major Pair levels and bias summary 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
Ichimoku Analysis (4 hour chart)
Tenken-Sen- $1960.35
Kijun-Sen- $1958.69
Gold prices pared most of their gains ahead of US Fed monetary policy. Markets already pricing in a 25 bpbs rate hike. Any hawkish comments from Fed Chairman will drag the yellow metal further lower. Major central bank decisions such as Fed, SNB, and BOE will be in the spotlight. Gold hit a low of $1935.48 and is currently trading around $1938.90.
US existing home sales surged 14.5% in Feb to a seasonally adjusted annual rate of 4.58 million, the largest monthly increase since Jul 2020.
Major economic data for the day
Mar 22nd, 2023 US FOMC statement (6:00 pm GMT)
Mar 23rd, 2023 SNB monetary policy Assessment
US dollar index-Bearish. Minor support around 103/102.50. The near-term resistance is 104/105.10.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in Mar increased to 89.3% from 54% a week ago.
The US 10-year yield showed a minor pullback ahead of the US Fed meeting. The US 10 and 2-year spread widened to 57% from -33%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - Bearish (positive for gold)
US10-year bond yield- Bearish (positive for gold)
Technical:
The near–term support is around $1935, a break below targets of $1921/$1890.The yellow metal faces minor resistance around $1955 and a breach above will take it to the next level of $1963/$1972.
It is good to sell on rallies around $1955 with SL around $1965 for TP of $1900.
