Last Wednesday there was another test of 116.40 level, but supply wasn’t stopped and tried attack at 116.00. As a result USDJPY reached to a year’s low of price. Since December to last week’s Thursday Japan’s yen strengthened, during this  time price fell from 123.56 to 116.00.  At pointed level dynamic rebound occurred and during three upward sessions led price to Fibonacci 38,2% of previous downward movement. The immediate cause of that rebound (which means weakened yen), were information from Bank of Japan. Governor of BoJ Haruhiko Kuroda said: “We won’t hesitate adjusting policy, including easing policy, if necessary to achieve our 2 percent price target”. Nearest BoJ meeting will be at current week. Market’s reaction was dynamic, Japanese stock market has gained and yen fell down.

At chart USDJPY reached to first important resistance at 118.80 and rebound occurred. If demand break above that resistance next targets will be at: 120.60, 121.40, 123.50. However if declines continue nearest supports will be at levels: 118.10, 117.60, 116.50.

Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency. FxGrow launches new feature packed Website with technical analysis and economic calendar.

Time-frame H4


Error, group does not exist! Check your syntax! (ID: 3)