A break below of 109.109 and resisted we can expect the next support at 108, before the blue trendline kicks in for traders to follow up on the buying positions as the Stochastics goes into the oversold region
Yen gained against the U.S dollar, Euro and Pound late yesterday, after attaining its highest since August 2008 agains the USD. The monetary base year on year change was lower at 35.3%, lower than the estimated and the previous month’s 40.5%. The monetary base is the measure of change in the total quantity of Yen in circulation versus current account deposits held at the BOJ. Deviation from the planned trajectory for monetary base growth leads to policy adjustments to move in alignment with their inflation mandate.