USDJPY first tested downtrend line and subsequent it rebounded from this line. As we can see on the chart the bulls lost their hopes and USDJPY has been falling dynamically. Friday’s BoJ meeting and its uncertainty helps in appreciation of yen.
Current downward movement should be continue at least to the nearest support at 103.30 or even lower to 100.50 level. This last mentioned level is the key if the price breaks it, new downward wave will occur. However, we don’t know what surprises central banks will prepare for us. One thing is for sure we have to expect higher volatility at USDJPY on Wednesday and Friday (FED and BoJ meeting).
