FxWirePro: BOJ’s status-quo keeps yen supported, USD/JPY hits session lows at 119.90
BoJ left policy unchanged as widely expected and echoed the same old tune that the economy is recovering moderately and the QQE is having its intended effect USD/JPY erased gains and switch into the negative territory, h…
BoJ left policy unchanged as widely expected and echoed the same old tune that the economy is recovering moderately and the QQE is having its intended effect
USD/JPY erased gains and switch into the negative territory, hit session lows at 119.90 post-BoJ
The pair quickly retreated from fresh session lows and is currently trading at 120.07, with next resistance located 120.65 (Day's High), above which it could extend 121.34 (Sept 10 High)
To the downside immediate support might be located at 119.96 (Daily Tenkan) and further below at 119.85 (Sept 14 Low)
Overall bias is towards the downside, price action is well below the cloud and moving averages are negatively aligned
Daily Tenkan at 119.96 is a strong support zone, we will wait for break below to enter any short positions
