USD/JPY Rises As Risk Appetite Firms In Asia
FxGrow | Apr 06, 2016 05:24AM ET
USD/JPY rises as risk appetite firms in Asia
USD/JPY fell to 14-month lows at 109.95 yesterday on BOJ negative interest rate policy. Japanese yen gained support as Kuroda said that he will keep monitoring the currency and warned of further interest rate cuts. Breaking 1.1015 as a minor support point will nourish the downside trend and will push the USD/JPY lower toward 109.95, 109.70 and 109.50 respectively.
However, the USD/JPY is trying to find some ground, awaiting larger forces to take over, especially if the FOMC provide a hawkish tone today, thus pushing the USD/JPY higher. Cutting 1.1060 will push the USD/JPY to next resistance levels 1.1085 and 1.1120.
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