the daily chartist

USD/JPY recap for 08.01.2016

published 4 years ago

USD/JPY having a "blast" also in the new year.  Comments from BOJ for easing and steady economic recovery put the yen on the stronger side as the usd slides against it steeply. Price made a slight correction on the 28th, 29th and 30th December to 120.445 and the rapid selling started on 31st. The outlook is that there may be a short correction for the price towards 118.488 and the the selling will resume. The more-realistic scenario is that the price will continue even in the next week to fall and test 117.062 at first and possibly 116.479 before making any attempt to rise again.