FxGrow Daily Technical Analysis – 25th Jan, 2015
By FxGrow Research & Analysis Team
USDJPY - dynamic rebound from support after BoJ speech
Last Wednesday there was another test of 116.40 level, but supply wasn't stopped and tried attack at 116.00. As a result USDJPY reached to a year's low of price. Since December to last week's Thursday Japan's yen strengthened, during this time price fell from 123.56 to 116.00. At pointed level dynamic rebound occurred and during three upward sessions led price to Fibonacci 38,2% of previous downward movement.
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