Pashabxl

USDJPY: Correction but still same direction

FX:USDJPY   U.S. Dollar/Japanese Yen
USDJPY             is a nice pair having mechanical behaviour to political and economic statements and decision.
Remember when FEd decided QE1, USD shrink against the YEN, but when BoJ decided to put its QE             , it was the otherway around.
At the present, we do have FED's Tappering vs Boj decision to put an end to the QE             . But BoJ push really hard the QE             . where as FED's QE1+2+3 were more gradual as the tappering is at the present.
Technicaly speaking it appears that we are on an overbought level and therefore, there may be a technical correction on the dowside of the pair, in favor of YEN until 101.8 or 101.5 where there is a solid support level.
After reaching that technical level for a correction, USD may go again on the upside toward 104 or around.

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USDJPY
Pashabxl PRO about USDJPY 1 2 years ago
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