17.03.2020 USDJPY Analysis

17.03.2020 USDJPY Analysis On the last trading day of last week, the third industry activity index was followed in Japan, while the University of Michigan consumer confidence was followed in the USA. On the first trading day of the week, the Fed surprisingly went to a 100-point interest rate cut to cut funding interest to a range of 0 - 0.25 percent and committed to increasing bond purchases by at least $ 700 billion. Core machine orders in Japan increased by 2.9 percent during the day. In the USA, the New York Branch Manufacturing Index fell to minus 21.5, the lowest level recorded since March 2009. During the day, Central Bank of Japan, Kuroda, made statements after the bank increased its incentives. While the effects of the virus spreading in the global markets continue, it is observed that the USD / JPY parity is continuing its downward movement at the end of the day. Technically, it was observed that USD / JPY parity continues to be decisive at 105.90 level. If the downward trend continues as long as it is below the 106.50 resistance level, 105.30, 104.70 and 104.20 levels are important support levels to follow. If the upward trend in the pair is likely to be upward, 105,90, 106,50 and 107,20 resistance levels can be followed. [mstock id = "1604"]