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JPY targets 110.00, stalls at the initial test, but pressure continues

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    All eyes were on the JPY pairs today, led by USD sales down towards the March lows, breaking below here and 110.50 to put in a test on 110.00 . We managed to hold some 25 ticks or so off this key area, with a number of ‘jolts’ higher along the way, with source reports of the BoJ considering further easing measures and a stronger than forecast US non-manufacturing ISM. The downside remains vulnerable nevertheless, and unless we get a significant recovery through 111.00, sub 110.00 is still on

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