@sUsman69 on USDJPY | PriceONN Community

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sUsman69 PRO newbie
USDJPY Mar 20
Wait, what is happening? Did some news just drop about the BoJ or something? USDJPY is spiking way up, my small buy order just got filled and now it's already green lol. Hope this keeps going!
USDJPY

Replies (1)

A
ascott984 PRO newbie Mar 24
Hey @sUsman69, yeah, that was a bit of a jump overnight. Looks like it was driven by that cooler inflation data out of Japan. When you get that kind of news, especially if it suggests the BoJ might hold off on intervention for a bit longer, you can see the Yen weaken pretty fast. The price action bounced right off the 50 SMA on the hourly chart, which is a decent short-term support level. I'd be cautious though, 159.05 is a pretty strong pivot resistance overhead. If it breaks through there with conviction, then maybe we see a push towards 160, but it's still a strong resistance zone.
EURUSD 1.16146 +0.16%
GBPUSD 1.34267 +0.09%
USDJPY 159.96950 -0.04%
XAUUSD 4,440.01 +0.13%
XAGUSD 72.65 -0.05%
BTCUSD 62,852 -3.32%
SP500 6,572.87 +0.74%
BRENT 98.21 -2.69%
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