USDJPY 2016-03-17

Posted on

USD/JPY

111.30

As we advised before, market managed to hold trades below 114.25-55 zone which managed yesterday after FOMC to push pair toward target zone 111.00-50

market still holding trades above 111.00 which may create trading zone between 111.00 – 112.60 while from there will expect another drop toward 110.00 and below once market break below 111.00

Mid-Run target still toward 106.60 while concern will be that BOJ may intervene in the market at any prices below 110.00 so traders need to be careful on that

  Support Resistence
Level 1 111.00 112.20-60
Level 2 110.00 112.95
Level 3 109.00 113.65
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