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4 Oct 2013
USD/JPY finishes off lows after testing projected support at 96.91; BOJ looms
FXstreet.com (Barcelona) - The USD/JPY continued to trade bearishly Thursday on continued weakness in the greenback and a rush into the Yen as part of the “risk-off” trade.
The Bank of Japan will be releasing their interest rate decision and comments at 03:00 GMT
USD/JPY traders will be trading off of the Bank of Japan’s rate decision and accompanying commentary early Friday. Aside from that, they will have to continue to react to news flow out of Washington.
Technical outlook for USD/JPY
Technicians say the USD/JPY tested projected support at 96.91. Any break below that level would lead to a slide all the way down to 95.62. Resistance will be Thursday’s high of 97.86.
The Bank of Japan will be releasing their interest rate decision and comments at 03:00 GMT
USD/JPY traders will be trading off of the Bank of Japan’s rate decision and accompanying commentary early Friday. Aside from that, they will have to continue to react to news flow out of Washington.
Technical outlook for USD/JPY
Technicians say the USD/JPY tested projected support at 96.91. Any break below that level would lead to a slide all the way down to 95.62. Resistance will be Thursday’s high of 97.86.