18 Feb 2015
USD/JPY: Yen jumps to session lows as BOJ Kuroda defends QQE
FXStreet (Mumbai) - The yen shaved-off BOJ policy statement induced gains and fell to fresh session lows against the US dollar after BOJ Governor Haruhiko Kuroda maintained the BOJ will continue with its QQE program as long as necessary to achieve 2 pct inflation stably.
USD/JPY regains 119 levels
Currently, the USD/JPY erased losses and traded flat at 119.24 levels, having hit fresh session highs at 119.36 levels post Kuroda’s comments. The yen remained steady against the US dollar as traders continue to digest BOJ‘s unchanged monetary policy stance and also BOJ Governor Kuroda’s comments at press conference. 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 regains 119 levels
Currently, the USD/JPY erased losses and traded flat at 119.24 levels, having hit fresh session highs at 119.36 levels post Kuroda’s comments. The yen remained steady against the US dollar as traders continue to digest BOJ‘s unchanged monetary policy stance and also BOJ Governor Kuroda’s comments at press conference. 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.