USDJPY 2016-02-23

Posted on

USD/JPY

112.00

Traders back to jump on Japanese Yen as safe haven on Japan shares decline while traders are weighing BOJ ability to go for action

Bank of Japan may head for Market Intervention for any prices below 110.00 and so traders need to stay alert

Technical Analysis:

short-run: as we see over the chart market may head for trading zone between 110.00 – 115.10 for the coming short run while first support laying at 111.65

Mid-Run: as long as market holding trades below 116.20 the downtrend pressure will sustain to test 106.60 zone

  Support Resistence
Level 1 111.65 112.55
Level 2 110.95 113.40
Level 3 110.00 114.20
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