USDJPY 2016-02-03

USD/JPY

119.35

( 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 where market managed to retreat from that zone as overbought affected market with drop correction as we advised before toward 119.50

short-run showing support zone at 118.50-119.15 which may drive a trading zone between 118.50 and 121.60

downtrend risk will back if market managed to fell below 118.50

	Support	Resistence
Level 1	119.15	120.05-30
Level 2	118.50	120.85
Level 3	117.65	121.60