18 Feb 2015
USD/JPY: Yen unmoved after BOJ Status-Quo
FXStreet (Mumbai) - The yen regained 119 levels and steadied versus the US dollar in the Asian session, after a brief dip below 119 handle in reaction to Bank of Japan’s (BOJ) unchanged monetary policy stance.
USD/JPY back above 119
Currently, the USD/JPY traded slightly lower at 119.16 levels, having previously dipped to fresh session lows post the BOJ policy announcement. The yen remained steady against the US dollar after BOJ made no adjustments in its monetary policy and left its asset purchases unchanged at annual pace of 80 tn yen. BOJ maintained its bearish outlook on the consumer prices and reiterated from its last policy meeting that the Japanese economy was recovering moderately.
Meanwhile, traders now shift their focus on FOMC meeting minutes due for release later today for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.44 levels and above which it could extend gains 119.64 levels. To the downside immediate support might be located at 118.89 levels, below that at 118.50 levels.
USD/JPY back above 119
Currently, the USD/JPY traded slightly lower at 119.16 levels, having previously dipped to fresh session lows post the BOJ policy announcement. The yen remained steady against the US dollar after BOJ made no adjustments in its monetary policy and left its asset purchases unchanged at annual pace of 80 tn yen. BOJ maintained its bearish outlook on the consumer prices and reiterated from its last policy meeting that the Japanese economy was recovering moderately.
Meanwhile, traders now shift their focus on FOMC meeting minutes due for release later today for further momentum on the pair.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.44 levels and above which it could extend gains 119.64 levels. To the downside immediate support might be located at 118.89 levels, below that at 118.50 levels.