Pondering Out Loud re: Reserve Currency Fiesta in Africa and Asia adds to the De-dollarization a Technical and Fundamental POV Pt 3
I previously had given an a technical analysis on the USD/JPY pair back when the price was $144/145 back on Aug 24. 2023, and a follow up on Oct. 2nd where the price was $148.
...and you can read that post herefor Pt 1.
https://steemit.com/brics/@jaimebetamax/72mmvn-pondering-out-loud-re-reserve-currency-fiesta-this-week-in-africa-adds-to-the-de-dollarization-a-technical-and-fundamental-pov
...and you can read Pt 2 here
https://steemit.com/currency/@jaimebetamax/pondering-out-loud-re-reserve-currency-fiesta-in-africa-and-asia-adds-to-the-de-dollarization-a-technical-and-fundamental-pov-pt
As the chart shows there was no buy signal on the RSI yet there was divergence which is also useful as a signal but I just like to see them bundle up in order to take a trade. The price did continue to rise back to the ATH of $151 which we had hit in the last post a month ago. The fun part is actually approaching as the Central Bank of Japan keeps telling us its going to start to really intervene.
As the BOJ continues to print they are going to just need someplace to keep selling their own treasuries and stop absorbing them, devaluing their Yen for decades as they would buy those Japanese bonds with cheaply made and lent USD. Just like here in the US as foreign countries continue to dump our treasuries, especially Africa and Asia.
I see it being the banks, corporations and of course stable coins who will be doing the buying of UST over here. Here in the US we had expect the Middle Eastern countries of Africa were the ones buying our Treasuries and we would invest in their countries to develop the oil industries in Africa decades ago. Who Knows? Maybe it will be the Latin American countries with Venezuela leading the buying as they can provide us cheap oil and with improved and logical oil logistics.
BTW once I get my Steem power up I will be able to delegate it to Project Hope for divs, help me out yall!