[JPY] Yen Attempts Be Weak

USD/JPY 1-hour chart, source: forexfactory.com

During the politic and economic event of Brexit, the major currencies plunged against U.S. Dollar. The show is over and participants watch the market with their cool heads.Though Sterling's future isn't determined yet, it may not be the shocking news any more. Folllowing actions are shown and the market will respond with cool heart.

After the event, Euro rises against U.S. Dollar and Japanese Yen falls respectively. Sterling doesn't turn yet. The currency pair USD/JPY doesn't rise clearly-Yen weaken- but it attempt to do. In 1-hour chart of USD/JPY, there is a support line about price 102.50 band, we can watch. After the pair fell to 102.17 on June 29th, it repeats up and down in the band of 102.50~103.40 and it seems not to plunge under 102.50s.

It will repeat up and down in the tunnel of 102.50~103.50 in short term, I think. And it may break through over 103s and JPY keeps weak against Greenbacks. The shock outside, however, will pull down the currency pair USD/JPY, it means strong Yen.

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