21 Jan 2015
Yen extends gains after BOJ Gov Kuroda comments
FXStreet (Mumbai) - The Japanese yen surged versus the US dollar after Bank of Japan's (BOJ) Governor Kuroda reiterated that Japan’s economy continues to recover gradually.
Currently, the USD/JPY pair traded at 117.68, down -0.97% on the day, having posted fresh day’s low at 117.56 after the BOJ statement. The Japanese yen climbed higher against the US dollar after BOJ Kuroda stated that he sees Japan on a gradually recovery path and expects Japan’s CPI to reach 2% around FY2015 if the oil prices pose a gradual recovery.
Earlier in the day, the BOJ left interest rates and the asset purchases at 80 trillion yen unchanged in its monetary policy decision. BOJ stated expectations of moderate economic recovery with slowing price pressures.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.67 (20-DMA) levels and above which it could extend gains 118.85 (Jan 13 High) levels. To the downside immediate support might be located at 117.22 (Nov 27 Low) levels, below that at 117 levels.
Currently, the USD/JPY pair traded at 117.68, down -0.97% on the day, having posted fresh day’s low at 117.56 after the BOJ statement. The Japanese yen climbed higher against the US dollar after BOJ Kuroda stated that he sees Japan on a gradually recovery path and expects Japan’s CPI to reach 2% around FY2015 if the oil prices pose a gradual recovery.
Earlier in the day, the BOJ left interest rates and the asset purchases at 80 trillion yen unchanged in its monetary policy decision. BOJ stated expectations of moderate economic recovery with slowing price pressures.
USD/JPY Technical Levels
To the upside, the next resistance is located at 118.67 (20-DMA) levels and above which it could extend gains 118.85 (Jan 13 High) levels. To the downside immediate support might be located at 117.22 (Nov 27 Low) levels, below that at 117 levels.