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A Short-Term Technical Outlook for USDJPY After BOJ

FTD Limited by FTD Limited
January 21, 2021
Reading Time: 1 min read
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A Short-Term Technical Outlook for USDJPY After BOJ
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USDJPY Hourly Chart, 21-hour Moving Average
USDJPY Hourly Chart, 21-hour Moving Average

Today, BOJ stays steady and did not change the interest rates and asset purchases. As BOJ keeping all options on the table for the March meeting, they decreased the GDP forecast of 2020 from -%5.5 to -%5.6.

The price is testing 103.34 support. If broken below, USDJPY may target 102.70. For upward correction 21-hour moving average is the first obstacle in the short-term. Above that level, USDJPY may attack 103.65 and 103.97 resistances.

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