USDJPY

Mar 15, 2019

USD/JPY maintained a sideways motion yesterday and during the Asian session today, staying close yet above the 111.40 (S1) support line. We expect the pair to retain a bound range motion today, yet the pair could have some bullish tendencies today, should the BoJ governor maintain a dovish tone during his press conference and speech today and should the financial releases favor the USD side of the pair. Also the pair could be affected by any safe haven flow relating to the JPY. Should the pair come under the market’s selling interest, we could see it breaking the 111.40 (S1) support line and aim for the 110.15 (S2) support level. Should on the other hand, the market favor the pair’s long positions, we could see it aiming if not breaking the 112.55 (R1) resistance line.