ANALYSIS
NQ100 Finds Support from PPIApr 14
USDJPY: Pair At Its Highest Since 1990
The dollar/yen parity continued to rise on the fourth trading day of the week, updating the peak level of 32 years once again. At this point, the Bank of Japan's (BoJ) announcement that it would organize emergency bond-buying operations was decisive. Although the sources claim that the Japanese government will intervene, the way forward for the weakening path of the yen is extremely clear unless the BOJ presents a new story to the markets regarding the policy divergence adopted with the FED. Above, 150.50 resistance continues to be under close follow-up. With the consolidation that will be created by exceeding this level, 151.05 and then 151.60 could become target positions. In retreats, we will follow the 149.35 – 148.80 line as a recovery zone.
Support: 149.35 – 148.80 – 148.25
Resistance: 150.50 – 151.05 – 151.60
