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- USD/JPY Price Analysis: Bears are moving in ahead of BoJ
USD/JPY Price Analysis: Bears are moving in ahead of BoJ
- USD/JPY bears are in the market and breaking near-term support.
- There are prospects of a move to test 135.50.
USD/JPY is at 135.90, compared with 136.82 as of Thursday's Tokyo stock market close. Today's policy decision is the last scheduled one for Bank of Japan Gov. Haruhiko Kuroda, whose term is set to expire on April 8.
The following offers a bearish bias into the meeting as bears take out the 136 level.
USD/JPY daily charts
USD/JPY has met the 200 DMA and is being resisted by horizontal resistance in the upper 137s.
We have seen a correction into the neckline resistance and the bias is technically lower.
USD/JPY H1 chart
The price is offered with eyes on a test to 135.50 and a touch below while on the front side of the trendline resistance.
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