6 Nov 2014
USD/JPY dips lower on Oct BoJ minutes and open
FXStreet (Guatemala) - USD/JPY is trading at 114.63, down -0.10% on the day, having posted a daily high at 114.77 and low at 114.58.
USD/JPY has eased away slightly from the highs and is trading with a slightly bearish bias having made tremendous grounds of the last small number of sessions and aggressiveness of the BoJ. There was little in the October minutes that we have not known with most members concerned about inflation yet the Yen’s depreciating was welcomed and having positive effects while there is a 2% inflation target and until met they will keep easing and tale appropriate action where needed.
USD/JPY noteworthy levels
Current price is 114.64, with resistance ahead at 114.86, 115.02 (Daily Classic R3), 115.69 (Weekly Classic R2) and 118.89 (Weekly Classic R3). Next support to the downside can be found at 114.21 (Hourly 20 EMA), 114.11 (Daily Classic R1), 114.08, 114.01 (Weekly Classic R1) and 113.78.
USD/JPY has eased away slightly from the highs and is trading with a slightly bearish bias having made tremendous grounds of the last small number of sessions and aggressiveness of the BoJ. There was little in the October minutes that we have not known with most members concerned about inflation yet the Yen’s depreciating was welcomed and having positive effects while there is a 2% inflation target and until met they will keep easing and tale appropriate action where needed.
USD/JPY noteworthy levels
Current price is 114.64, with resistance ahead at 114.86, 115.02 (Daily Classic R3), 115.69 (Weekly Classic R2) and 118.89 (Weekly Classic R3). Next support to the downside can be found at 114.21 (Hourly 20 EMA), 114.11 (Daily Classic R1), 114.08, 114.01 (Weekly Classic R1) and 113.78.