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USD/JPY: Range-bound with Ichimoku cloud tested - RBS

FXStreet (Delhi) – Dmytro Bondar, Technical Analyst at RBS, suggests that the USD/JPY pair remained in a range with both upside and downside breakout failing so far.

Key Quotes

“On the upside, the pair has a pivot point at the Ichimoku (near the 122.13). If broken, it will trigger a rally to at least 125.87 and possibly 129.61 and 131.93 levels.

On the downside, we have a Head and Shoulders formation with the neckline standing at 116.00/116.50. If the latter is broken, (which seems unlikely now), that would be a trigger for 110.01 and 106.27.

If not, a failed H&S would be a bullish pattern with the targets above 130.”

RES: 122.13 124.00 125.87
SUP: 119.81 118.00 116.50

Option expiry's for today's NY cut

Option expiry's for today New York cut at 10:00 ET, via DTC, can be found below.
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Will negative interest rates become global trend? - Nomura

Richard Koo, Research Analyst at Nomura, suggests that the market’s reaction to the BOJ’s action showed that an overwhelming majority of people in the equity and forex markets—both in Japan and elsewhere—continue to hold textbook economic assumptions about how monetary policy will work in today’s environment.
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