USDJPY in the short term is still facing a resistance zone around 160.90-161.95 as the last time the market reached it, the Bank of Japan warned about possible intervention to support the yen.
While the Japan Finance Minister Katayama announced today that they are ready to take strong action on speculative forex moves.
Traders should take Precautionary measures as the Bank Of Japan could intervene any time in the market.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 157.00-50 | 160.90-161.95 |
| LEVEL2 | 155.00 | 163.80 |
| LEVEL3 | 152.00 | 165.50 |