Forex Forecast: 110 the line in the sand for USD/JPY

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USD/JPY near 110 unlikely to lead BoJ to act, says Ryan Littlestone, Director and Trading Analyst for Forex Live, as he shares the technical outlook for the forex pair, when joined by Zak Mir, Technical Analyst for ZaksTradersCafe, on the Tip TV Finance Show.

Key Points

“USD/JPY down near the 110 level, whether it is enough to bring the BoJ out firing don’t think so yet” – Littlestone

USD/JPY at 111 level was strong throughout the year. The pair finds itself in the range each time after it sees a big move.

” 110 the line in the sand, keep it tight when buying dips, support should hold” – Littlestone

110 is a strong support for USD/JPY, falling below this might see additional losses, and might even trigger BoJ action if volatility increases.

“USD/JPY – Too much in the US side of the trade to go much lower than 100, anything is possible though and if 110 breaks we will be on our way” – Littlestone

Tip TV Finance is a live video show, broadcasted weekdays from 10 am sharp. Based in St Paul’s, in the heart of the City of London, Tip TV prides itself on being able to attract the very best quality guests on the show to offer viewers informed, insightful and actionable infotainment.

The Tip TV Daily Finance Show covers all asset classes ranging from currencies (forex), equities, bonds, commodities, futures and options. Guests share their high conviction market opportunities, covering fundamental, technical, inter-market and quantitative analysis, with the aim of demystifying financial markets for viewers at home.

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