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Long

USD/JPY breaks 109.90, takes out 110.40, stay long for 111

FX:USDJPY   U.S. Dollar / Japanese Yen
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USD/JPY             saw a sharp 80-pips rally above 110 barrier in a knee-jerk reaction to the latest BOJ headlines.

BOJ is discussing negative-rate loans, following the decision by the BOJ to adopt negative rates on excess reserves earlier this year.

Pair has now broken above the 109.90 level but finds next strong trendline resistance at 110.40.

Daily techs are biased higher, breaks above 110.40 could see upside till 111 levels.

BoJ will hold its two day monetary policy meeting on 27-28 April where it is expected to decide policy rate and update forecasts inflation and growth figures.
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