The pair dollar/yen closed the trades with a decrease. We should notice that the yen had about no chance of a growth. Besides the renewed risk aversion the BoJ statements put pressure on the yen. According to the Bank the falling oil prices is welcome news for the inflation. Haruhiko Kuroda expressed his intention to continue the quantitative easing policy as long as the inflation is stabilized at the target level of 2%.
The first support resides at 117.00, the next is at 116.20. The first resistance stands at 117.80, the next one is at 118.40.
The indicator shows a strong and non-confirmed sell signal. The price is under the Cloud and in under the Chincou-span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement forming a “Golden Cross”. The downward movement will be until the price is below the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
After the resistance level of 117.80 breakthrough upward the way to the resistance 118.40 will be opened.