#USDJPY [MNC] Will the Japanese Yen make a counter move today?!

Jan 20, 2020

USDJPY

#USDJPY has rallied since the beginning of January accelerating the upward move that started last September 2019. The rejection to go lower was off the 90 EMA on monthly and has been grinding upwards ever since.
Price now has reached cross roads where it is about to touch the massive downtrend line that extends from June 2015 and been touched and respected for 4 times. Will the 5th touch succeed to send USDJPY lower? especially price is now meeting a monthly supply ranges between 109.680 and 112.360.

We have the BOJ rate decision today which is anticipated to remain the same on -0.1% but will the BOJ surprise us tonight? in my view the catalyst is there and we will trade it in both scenarios, to breakout to the the upside thus the first goal would be around 111.00 or retrace back.