Pair is well supported below ¥115.00 marks and made intraday low at ¥114.25 levels.
- Oil prices sank over 6% overnight; Yen and Gold turn out to be the safe haven assets for the investment.
- In addition, stock prices in Japan also crashed by more than 2%. Japan's benchmark Nikkei 225 index was trading 2.40% lower to 15699.92 points in morning trade.
- In data front, Japan released PPI figures with negative numbers at -3.1% vs -3.5% previous release.
- Intraday bias remains bearish below the ¥115.26 marks.
- A daily close below ¥114.20 is required to confirm the more bearish trend.
- Alternatively, reversal from this level may drag the parity above ¥116 marks.
- On the downside, major support levels are seen around ¥114.06, ¥113.85 and ¥113.41 levels.
- On the other side, resistance levels are seen at ¥115.26, ¥116.78 and ¥117.35 levels.
We prefer to take short position on rallies. Sell USD/JPY around ¥114.50, stop loss ¥115.85 and target ¥113.41 levels.


BoE Pause Pulls Back Sterling: GBP/JPY Dips to 207.92 Despite Hawkish Undercurrents
FxWirePro: GBP/AUD edges higher but maintains bearish bias
FxWirePro: GBP/USD gains some traction after UK retail sales beat expectation
FxWirePro- Major Crypto levels and bias summary
AUDJPY Soars Past 112 on BOJ Rate Hike, Technicals Signal Bullish Momentum
FxWirePro: USD/JPY rises as yen weakens following BOJ's 25bp rate hike
FxWirePro: USD/ZAR edges higher as rand weakens ahead of South Africa inflation data
FxWirePro: GBP/NZD uptrend loses steam, remains on bullish path
FxWirePro: GBP/USD falls after BoE holds rates and warns of further hikes
FxWirePro: USD/CAD loses upside momentum but outlook is bullish
FxWirePro: EUR/AUD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR slips as rand benefits from steady commodity prices
FxWirePro: EUR/AUD downtrend loses momentum, bearish bias prevails
FxWirePro- Woodies Pivot (Major)
JPY Major Currency Score
FxWirePro: GBP/AUD falls after BoE rate hold 



