USD/JPY under extreme selling pressure, test of 107.60 likely

FX:USDJPY   U.S. Dollar / Japanese Yen
719 1 6
USD/JPY             under extreme selling pressure, extending downside as we write, hit lows of 108.80, test of 107.50 likely.

BOJ governor Kuroda crossed the wires today, saying that they are closely watching FX market moves and that they will take steps in FX market if necessary.

Sporadic direct intervention by the MOF or rates checking calls to dealers cannot be ruled out.

We are of the view that intervention can only provide temporary relief. All spikes to provide buying opportunities.

Charts are biased lower. Tests of 108.25,108 and then 107.60 levels likely.
Trade closed: target reached: Final target almost hit @107.63, advise booking full profits.

Pair finds strong support at 107.60, breaks below needed for further downside.


EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out