Friday, October 16, 2026

Technicals

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FxWirePro: USD/JPY recovers from session lows at 119.76, trades above 120 handle

USD/JPY struck fresh session lows at 119.80 in an immediate reaction to the Bank of Japan monetary policy decision BoJ left the monetary policy settings unchanged with asset purchases to increase at an annual pace of abo…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • USD/JPY struck fresh session lows at 119.80 in an immediate reaction to the Bank of Japan monetary policy decision

  • BoJ left the monetary policy settings unchanged with asset purchases to increase at an annual pace of about 80 trn yen

  • BOJ decision boosted the yen versus the US dollar, pushing USD/JPY nearly 40 pips down from around 120.15 region to fresh lows by 119.76

  • The pair has recovered from lows to retake the 120 handle and is currently trading at 120.09

  • Daily cloud top at 120.39 offers strong resistance, while daily Tenkan at 119.96 is support on the downside

  • The pair is set to extend sideways consolidation for now, has been trading a 121.25 - 118.60 range since September 

  • Longer term momentum is bullish, breaks above 120.86 could see some momentum higher

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By FxWirePro Team