USDJPY

USDJPY

In Japan, we will follow policy rate decision. The market does not expect any change in the policy rate at -0.1%, however, BoJ Governor’s statements will be priced in USDJPY. Additionally, Japan National Core CPI (YoY) will be published in the upcoming week. The consensus estimate for core inflation in January is expected to stay at 0.8% y/y while any pick up in headline inflation from 0.8% will lead further drop in USD/Yen pair.

The USDJPY pair closed last week below the 110.86 key level. As long as the price trades below 110.86, on a four-hourly basis, the bearish action may continue. In this case, the support levels will stand at 110.61 and 110.15. On the other hand, if the pair rises above 110.86, the next resistance level will be at 111.28

 

Support: 110.61 – 110.15 – 109.90

Resistance : 110.86 – 111.28 – 111.66

22 Jan 18 (Mon)

07:18 am



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