Dig in and get more updated on the 10 January JPY Intraday Technical Analysis as it shows with the aid of a video that the Japanese yen declined on Wednesday.
10 January, HotForex – The Japanese yen declined on Wednesday, as the dollar regained its composure following a series of heavy losses early in the week. The USD/JPY exchange rate fell 0.3% to 112.30. It now faces a support level of 112.10. On the opposite side of the ledger, resistance is likely found at 113.40.
10 January JPY Intraday Technical Analysis (+Video)
JPY Bid runs following BOJ Surprise – USDJPY has declined for a second consecutive day. The move has been driven by broader yen gains, with EURJPY and AUDJPY, among other yen crosses, also down.
Market participants have been continuing to digest the BoJ’s QE tapering announcement of yesterday, despite some market narratives downplaying the taping move has being little more than a baby step, with the central bank likely to remain committed to its YCC (yield curve control) policy in the face of the chronic undershooting of the inflation target.
This article about 10 January Market Moving Fundamental Events was written by Stuart Cowell, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.
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