FXstreet.com (Barcelona) - The USD/JPY is falling below the 80.00 psychological level as the European session gets underway. Currently, the pair seems unable to overcome 80.07 area.
The BoJ officials have already said they would proceed to action to keep the Japanese Yen from getting much higher.
“After reaching a top around 81.77 on 20th of April, the USD has been weakening versus the JPY along a bearish Fibonacci fan. The fall has recently stopped at the support level around 79.70”, wrote Varengold Bank analysts, pointing to a decline back to 79.70, while 80.07 holds the upside.
The BoJ officials have already said they would proceed to action to keep the Japanese Yen from getting much higher.
“After reaching a top around 81.77 on 20th of April, the USD has been weakening versus the JPY along a bearish Fibonacci fan. The fall has recently stopped at the support level around 79.70”, wrote Varengold Bank analysts, pointing to a decline back to 79.70, while 80.07 holds the upside.
