JPY Pairs at Key Resistance

Overview

Most Yen pairs are at or nearing key resistance on daily, weekly, and monthly time-frames.

The Details

• The Yen continues to weaken against global currencies due to negative interest rates set by the Bank of Japan (BOJ) and higher interest rates from the RBA, RBNZ, ECB, BOE, SNB, FED, etc.
  
• The BOJ are edging closer to changing rates to zero or positive. This could strengthen the Yen, or at least stabilise the JPY selling.
  
• The BOJ may intervene in the FX rate if JPY continues to weaken further, meaning possible JPY bullish volatility.
  

The Technicals

• AUDJPY at weekly horizontal channel resistance
  
• CHFJPY at monthly bullish channel resistance
  
• GBPJPY nearing monthly horizontal resistance
  
• NZDJPY at monthly horizontal resistance
  
• SGDJPY at daily horizontal resistance and nearing previous daily trend support as resistance
  
• USDJPY around weekly horizontal resistance