USD/JPY breaks below minor support at 113.26, targets 112.70
USD/JPY fades a knee-jerk spike to 114.14 post BoJ, slips below 113.50, focus now on Kuroda’s presser.
BoJ policy meeting saw no changes, the central bank kept interest rate at -0.1% and maintained 80 trln yen base money target.
Notably the central bank removed language from its statement that it will cut interest rates further into negative territory if judged necessary.
The Yen initially slipped but regained control and inched higher against the US dollar.
USD/JPY hit session lows at 113.22, slipping below cloud top support at 113.26, has pared some losses to currently trade at 113.35.
Momentum is lower, test of 113 and then 112.70 likely, markets focus on Kuroda’s presser for further direction.
Good to sell rallies around 113.40, SL: 113.75, TP: 113/112.70
BoJ policy meeting saw no changes, the central bank kept interest rate at -0.1% and maintained 80 trln yen base money target.
Notably the central bank removed language from its statement that it will cut interest rates further into negative territory if judged necessary.
The Yen initially slipped but regained control and inched higher against the US dollar.
USD/JPY hit session lows at 113.22, slipping below cloud top support at 113.26, has pared some losses to currently trade at 113.35.
Momentum is lower, test of 113 and then 112.70 likely, markets focus on Kuroda’s presser for further direction.
Good to sell rallies around 113.40, SL: 113.75, TP: 113/112.70
Trade closed: target reached