USDJPY 2016-03-17
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 |