According to Mr. Kuroda the regulator is ready to reduce the negative interest rates and to increase the quantitative easing program to achieve the inflation target of 2%, if it is necessary. Thus, the Japanese financial authorities continued its verbal intervention in respect of its national currency, which is expensive for a sustainable economic growth.
The first support resides at 112.20, the next is at 111.40. The first resistance stands at 113.00, the next one is at 113.80.
There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement forming a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
After the support level of 113.00 breakthrough down the way to the support 112.20 will be opened.