Bank of Japan released “Statements on Monetary Policy” today, which introduced Negative Interest Rate.
The initial reaction was YEN Weakness – Spike on USDJPY and reached up to MPP.
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