BOJ Hesitates, and the YEN Plunges

In today's BOJ Meeting, Kuroda & Co., decided to forgo any additional stimulus measures (after publicly suggesting they might), which immediately triggered an exodus into Yen (out of Dollars) to 108 from nearly 112.

From a technical perspective, today's decline in USD/YEN (weaker USD vs stronger YEN) initiated a new downleg within the dominant downtrend in USD/YEN that commenced at the June 2015 high of 125.86.

My next optimal target zone is 102-100.

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