21 Nov 2013
USD/JPY finds offers above 100.40, BoJ a no trigger for Yen action
FXstreet.com (Barcelona) - After rising to a new marginal 2-month high above 100.40, the USD/JPY has been unable to enjoy much follow through past that resistance level, as a retracement off Nikkei's fresh multi-month peak weigh on the pair.
As reported by Peter Fell from FX Beat: "Massive" fix related demand sent USD/JPY to 100.49 from 100.25. Option names are the cited sellers with 350 million on offer on the EBS. Stops are being touted above, technical resistance at 100.61, previous high."
On a fundamental note, the BoJ concluded its 2-day policy meeting with no surprises to report, retaining its 60-70 T yen annual rise of its monetary base, while noting its firm commitment to keep policy ultra-loose until sustained 2% inflation is achieved.
As reported by Peter Fell from FX Beat: "Massive" fix related demand sent USD/JPY to 100.49 from 100.25. Option names are the cited sellers with 350 million on offer on the EBS. Stops are being touted above, technical resistance at 100.61, previous high."
On a fundamental note, the BoJ concluded its 2-day policy meeting with no surprises to report, retaining its 60-70 T yen annual rise of its monetary base, while noting its firm commitment to keep policy ultra-loose until sustained 2% inflation is achieved.