Bank of Japan released “Statements on Monetary Policy” today, which introduced Negative Interest Rate.

http://www.boj.or.jp/en/announcements/release_2016/k160129a.pdf

 

 

The initial reaction was YEN Weakness – Spike on USDJPY and reached up to MPP.

2016-01-29_14-23-24-UJ1-1024x697

Currently the price came down to Fib38.2% + Role Reversal zone.

As the buy zone, I would like to also suggest Fib78.6% + Role Reversal zone, as well as our regular Fib38.2 – 61.8% zone.

 

I hope this Yen Weakness will last.

 

YJ Baik – Forex.Today @ Tokyo

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