USD/JPY
120.65
( dollar/yen jump after Kuroda cut the rate on excess reserves held by financial institutions at the BOJ to minus 0.1 percent ).
as we see over the chart market facing resistance at 121.60-70 zone , while the downtrend line laying resistance at 122.80-123.00 zone
such rate cut may drive Japanese Yen for farther drop against most counterparties in the coming weeks , while short-run showing trading in over-sold zone which may drive market for drop correction toward 119.50 zone , while first support at 120.30-50 zone
market managed today to test support 120.30-50
as long as market holding above 118.50 will expect the market to sustain trials to test 121.60-70 and above that level will expect 122.80-123.00 zone
| Support | Resistence | |
| Level 1 | 120.30-50 | 121.60-70 |
| Level 2 | 119.15 | 122.25 |
| Level 3 | 118.50 | 122.80-123.00 |
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