USDJPY 2016-04-07

Posted on

USD/JPY

108.35

Market managed to sustain drop as we advised before where managed to accelerate drop movement on traders ignoring BOJ warning for intervention

market facing support zone at 107.70 which may drive for rebound correction toward 109.40 while main resistance laying at 110.20

as long as market holding below those resistance the downtrend movement will sustain toward 107.70 and 106.60

however market may be in alert situation as market fell below 110.00 levels as BOJ consider any prices below this zone as a potential for intervention movement to weaken the Yen and so traders need to stay alert

  Support Resistence
Level 1 107.70 109.40
Level 2 106.60 110.20
Level 3 105.20 111.05
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