USDJPY 2016-02-22

Posted on

USD/JPY

113.20

BOJ may go for verbal intervention to reach traders that any farther decline in USDJPY may not be acceptable for policy makers

however market expecting that any prices below 113.50 may be zone of BOJ verbal intervention while below 110.00 market odds for direct currency intervention from BOJ will be high

Technical analysis view : Market sustain demand on Haven Japanese Yen while traders measuring how serious BOJ on intervene to weaken his currency

market facing resistance zone at 113.30-65 where as long as market holding below this zone will expect farther drop toward 111.65

above 113.65 market may obtain bigger rebound correction while 115.10 will be a target

  Support Resistence
Level 1 112.70 113.30-60
Level 2 112.30 114.30-50
Level 3 111.65 115.10
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