The hourly chart for the pair shows indicators flat around their midlines, and moving averages also flat around current price, giving no clues about direction. The strong risk aversion environment however, favors yen gains against its rivals, included dollar.
After the BOJ left economic policy unchanged, investors won’t hesitate to buy the Japanese currency on risk events. The 4 hours chart shows 100 SMA around 79.80 acting as dynamic support at the timing being, while the daily chart bearish tone remains intact as per price developing below key 80.10 area.
Valeria observes support levels at 79.45 79.10 78.80,
while resistance levels at 79.80 80.10 80.30
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