USD/JPY TECHNICAL OUTLOOK : 20.09.2016

USD/JPY TECHNICAL OUTLOOK : 20.09.2016

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USD/JPY. Pair after opening at 101.84 and made a high of 102.06 and was seen selling pressure from the higher levels, now pair is having a strong support at 101 and is likely to violate and , the pair is also having a key support at 100-99.50 and strong supply is coming in around 104 levels the pair is likely to be range bound

Fundamental Overview

Yen is trading at 101.90, remaining near to the 102.00 levels after the Japanese markets opened after the holiday yesterday. Focus would be on the Bank of Japan meeting tomorrow to see if the central bank can satisfy the markets’ expectations for additional stimulus. If disappointed the yen could scale to 100.00 against the US dollar. 
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