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Short

USD/JPY below 110 handle on hawkish Kuroda, sell rallies, target

FX:USDJPY   U.S. Dollar/Japanese Yen
259 0 8
USD/JPY             upside lost momentum and the pair slipped below 110 handle after BoJ's Kuroda surprised markets.

Kuroda for the first time ever spoke on rolling back the ongoing accommodative monetary policy regime.

Yen back on the bids, pushes USD/JPY             lower. Pair slips below the 110 handle. Breaks 1H 21-SMA at 109.90.

Techs on hourlies support downside, 5-SMA on the verge of a bearish crossover on 10-SMA. Stochs and RSI are biased lower.

Immediate support and resistance are seen at 109.85 (50-DMA) and 110.34 (23.6% Fib June 2015 to May 2016 fall).

Good to sell rallies around 109.90/95, SL: 110.25, TP: 109.35
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