USD/JPY Current price: 122.68
View Live Chart for the USD/JPY
The USD/JPY sunk to a fresh 1-month low of 121.87 at the weekly opening, but managed to erase its intraday losses during the Asian session, amid BOJ´s Kuroda comments on the economic policy, remarking QE will be maintain as long as it's needed. He also noticed that the economic recovery is moderated, whilst inflation expectations remain subdued. The pair approached the 123.00 region and filled the weekly opening gap before turning back south, and the 1 hour chart shows that the price was unable to recover beyond its 100 SMA, whilst the technical indicators have turned sharply lower, still holding above their mid-lines. In the 4 hours chart, the price remains far below its 100 and 200 SMAs, while the technical indicators have turned south in negative territory, after a limited upward corrective movement, all of which supports a downward continuation, particularly on a break below 121.45, the immediate static support. The upside will remain limited as long as the price holds below the 123.30 region.
Support levels: 122.45 122.00 121.70
Resistance levels: 122.95 123.30 123.80
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