USD/JPY chart - Trading View
USD/JPY slumps below 108 handle to hit new 5-month lows at 107.55, bias bearish.
The Bank of Japan retained the short-term interest rate target at -0.1% as widely expected.
The the monetary policy statement offered little hawkish/dovish surprises, while maintaining the 10-year JGB yield target around 0%.
USD/JPY remains on the defensive amid falling UST yields and an overtly dovish Fed outcome.
Technical indicators have turned bearish. Volatility is rising, scope for further downside.
Price action has tested 61.8% Fib retracement. Next major bear target lies at 107.31 (Sept 2017 low) ahead of 78.6% Fib at 106.31.
Support levels - 107.31 (Sept 2017 low), 107, 106.31 (78.6% Fib)
Resistance levels - 108, 108.25 (5-DMA), 108.52 (50% Fib)
Recommendation: Good to stay short on upticks, SL: 108.30, TP: 107.31/ 107
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


FxWirePro: EUR/ NZD consolidating around 2.0180 room for further gains
FxWirePro: GBP/NZD range to extend until there is game changing news
FxWirePro: USD/ZAR sustains gains as uptrend remains strong
FxWirePro: GBP/USD recovers but bears are not done yet again
FxWirePro: USD/ZAR fibo rejection triggers sizeable pullback
FxWirePro: EUR/AUD gaining momentum for a move towards 1.6800 level
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD outlook weaker on renewed downside pressure
NZDJPY Bears Take Control: New Zealand Dollar Retreats as 92 Resistance Holds Firm
FxWirePro: EUR/ NZD steadies around 2.0150, retains bid tone
FxWirePro: EUR/AUD eases slightly but trend is still bullish
EUR/JPY Bulls Charge: Eyeing 186.00 as Euro Strength Intensifies
FxWirePro:NZD/USD drifts lower, could be on verge of bigger drop
Ethereum Retreats Toward USD 2,000: Technicals Signal Caution as ETH Mimics Bitcoin’s Pullback 



