USD/JPY outlook: Cracks 150.00 support after 1% drop on Thursday
|
USD/JPY
USDJPY was sharply down on Thursday morning as yen received fresh boost from growing expectations of BoJ’s more aggressive approach to monetary policy.
The price fell almost 1% during Asian/ early European trading and cracked psychological 150 support for the first time since Dec 9.
The support is reinforced by lower 20-d Bollinger band and provided temporary footstep, where bears may pause for consolidation.
Upticks should stay capped under 151.00 zone to keep bears intact for fresh push lower and firm break of 150 trigger which would signal bearish continuation and expose next targets at149.22 and 148.64 (50% retracement of 139.57/158.87 / Dec 3 higher low respectively).
Negative daily studies (MA’s in bearish setup / strong negative momentum) with latest formation of 20/100DMA bear-cross, support scenario.
Caution on lift above 151.00 and violation of 151.50 (broken Fibo 38.2%) which would sideline bears and open way for stronger recovery.
Res: 151.00; 151.50; 152.05; 152.59.
Sup: 150.00; 149.22; 149.00; 148.64.
Interested in USD/JPY technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.