Monthly support zone will be tested
Last week USDJPY closed below its 200 weeks MA line. The sharp decline that followed the BOJ monetary policy stopped only when USDJPY reached the 103-104 support zone which is a weekly structure zone and also where USDJPY met the 50 months MA line (!)
This support zone will be in focus in the next coming weeks as high impact events are heading our way - Yellen's testimony, Brexit and perhaps BOJ intervention in the currencies market.
This analysis is part of longer term analyses I've posted in this week's newsletters towards Brexit - Read more goo.gl/Hh0DuV
Tomer, The MarketZone
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This support zone will be in focus in the next coming weeks as high impact events are heading our way - Yellen's testimony, Brexit and perhaps BOJ intervention in the currencies market.
This analysis is part of longer term analyses I've posted in this week's newsletters towards Brexit - Read more goo.gl/Hh0DuV
Tomer, The MarketZone
Follow me on TradingView
Subscribe to my newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
