USD/JPY plunges after hitting 80.00 on BoJ
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USD/JPY
FXstreet.com (Barcelona) - The BoJ Governor Shirakawa stated that the economy is picking up, raising the economic assessment for the first time in 2009, but sees the Eurozone debt crisis as the biggest risk. Monetary easing will be taken.
A first rally above 80.00 suddenly gave in to selling pressure, plunging all the way down to 79.59, for now. The USDJPY has the 20-day moving average, at 79.56, offering support.
"Hold over 79.50 gives reason to expect a new test of 80.60 and 81.45. Downward movement can be expected in case of crossing the trendline near 79.20", wrote Deltastock.com analyst Stoyan Mihaylov.
A first rally above 80.00 suddenly gave in to selling pressure, plunging all the way down to 79.59, for now. The USDJPY has the 20-day moving average, at 79.56, offering support.
"Hold over 79.50 gives reason to expect a new test of 80.60 and 81.45. Downward movement can be expected in case of crossing the trendline near 79.20", wrote Deltastock.com analyst Stoyan Mihaylov.
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