FxGrow Daily Technical Analysis – 06th April, 2016
By FxGrow Research & Analysis Team
USDJPY rise as risk appetite firms in Asia
USDJPY fell to 14 month lows at 109.95 yesterday on BOJ negative interest rate policy. Japanese Yen gains support as Kuroda said that he will keep monitoring the currency and warned of further interest rate cut. Breaking 1.1015 as a minor support point will nourish the downside trend and will push the USDJPY lower toward 109.95, 109.70 and 109.50 respectively.
However, the USDJPY is trying to find some ground awaiting larger forces to take over especially if the FOMC provide a hawkish tone today thus pushing the USDJPY higher. Cutting 1.1060 will push the USDJPY to next resistance levels 1.1085 and 1.1120.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
By FxGrow Research & Analysis Team
USDJPY rise as risk appetite firms in Asia
USDJPY fell to 14 month lows at 109.95 yesterday on BOJ negative interest rate policy. Japanese Yen gains support as Kuroda said that he will keep monitoring the currency and warned of further interest rate cut. Breaking 1.1015 as a minor support point will nourish the downside trend and will push the USDJPY lower toward 109.95, 109.70 and 109.50 respectively.
However, the USDJPY is trying to find some ground awaiting larger forces to take over especially if the FOMC provide a hawkish tone today thus pushing the USDJPY higher. Cutting 1.1060 will push the USDJPY to next resistance levels 1.1085 and 1.1120.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.