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USD/JPY holds near 110 barrier

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Yesterday, equities and oil slumped, bringing risk‐off sentiment again to the forefront. European eco data were weak, while IMF chief Lagarde was downbeat about the outlook for global growth. The yen was the main beneficiary, while also the Swiss franc and gold advanced. USD/JPY extended Monday’s losses and tumbled from 111.35 to an intraday low of 109.95 even as there were rumours about BOJ policy easing in April. At the close, USD/JPY was quoted 110.34, down from 111.34 at the previous

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  2. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    A breakout below 110 could lead to a further drop to 104.
     

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