FxWirePro: Japanese Yen Recovers from 3-Week Low in Early Asia, FOMC and BoJ in Focus for the Week
- USD/JPY is currently trading around 111.35 marks.
- It made intraday high at 111.88 and low at 111.25 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 111.88 marks.
- A sustained close above 112 will take the parity higher towards 112.60 and 113.42 levels.
- Alternatively, a daily close below 109.89 will drag the parity down towards key supports at 109.48 and 107.87 levels respectively.
- This week will be important as U.S. and Japan both will release monetary policy statements.
The material has been provided by InstaForex Company - www.instaforex.com