Monthly support zone will be tested

FX:USDJPY   U.S. Dollar/Japanese Yen
Last week USDJPY             closed below its 200 weeks MA line. The sharp decline that followed the BOJ monetary policy stopped only when USDJPY             reached the 103-104 support zone which is a weekly structure zone and also where USDJPY             met the 50 months MA line (!)

This support zone will be in focus in the next coming weeks as high impact events are heading our way - Yellen's testimony, Brexit and perhaps BOJ intervention in the currencies market.

This analysis is part of longer term analyses I've posted in this week's newsletters towards Brexit - Read more

Tomer, The MarketZone
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