Fxwirepro: Japanese Yen Gains After Boj’s Comments

  • USD/JPY is currently trading around 110.65 marks.
  • It made intraday high at 110.92 and low at 110.47 levels.
  • Intraday bias remains bearish till the time pair holds key resistance at 111.58 marks.
  • A daily close above 110.89 will take the parity higher towards key resistances around 111.58, 112.20, 112.86, 114.88, 115.50, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
  • On the other side, a sustained close below 110.89 will drag the parity down towards key supports around 110.17, 109.72, 106.72, 106.03 and 104.96 levels respectively.
  • BOJ governor Kuroda – BOJ's ETF purchases are part of policy to meet 2 pct inflation target.
  • BOJ governor Kuroda – Too early to talk about exit strategy from current monetary policy, which includes ETF purchases.
  • BOJ governor Kuroda – Not buying ETFs to achieve a specific stock price level.
  • BOJ governor Kuroda – ETF purchases are not distorting stock price discovery mechanism.
  • BOJ governor Kuroda – No comment on specific FX levels.

The material has been provided by InstaForex Company – www.instaforex.com

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