| Trade Idea USD/JPY intraday: key ST resistance at 78.5. |
Pivot: 78.5
Our preference: Short positions below 78.5 with targets @ 77.9 & 77.7 in extension. Alternative scenario: Above 78.5 look for further upside with 78.9 & 79.2 as targets. Comment: as long as the resistance at 78.5 is not surpassed, the risk of the break below 77.9 remains high. |
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JPY Recovers Losses Following BOJ Monetary Easing
After tumbling against virtually all of its main currency rivals during overnight trading yesterday, after the Bank of Japan (BOJ) announced a new round of monetary easing, the JPY was able to recover virtually all of its losses throughout the European session. Today, both euro-zone and US news is forecasted to generate volatility in the marketplace. Traders will want to pay attention to the results of a bond auction out of Spain, followed by the US Unemployment Claims, Philly Fed Manufacturing Index, and finally a speech from ECB President Draghi scheduled for 16:00 GMT
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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