The strengthening of the Japanese currency at the end of last week, the Central Bank contributed to the extension of measures as a result of Japan's two-day meeting. However, the BoJ decision disappointing market players who had expected a more ambitious actions to support inflation.
The yen gained control in trading on the pair USD / JPY. The pair fell and found at least 11 July. Resistance is located at 103.50, support - at 102.50.
MACD and RSI continue to form a sell signal. MACD has decreased, which indicates a strengthening of the positions of sellers. RSI entered the oversold zone.
On the 4-hour chart, the tool broke the 50 EMA 100 EMA and the 200 EMA in the downward direction. The moving averages have turned in the downward direction.
Forecast USD / JPY
Attention should be paid to the level of 101.40. In the event of breakdown downward movement may continue downwards.
Forecast Fort Financial Services