4 May 2016
USD/JPY: markets taking control despite BoJ - FXStreet
Valeria Bednarik, chief analyst at FXStreet noted that the USD/JPY pair extended its decline down to 105.54 before finally meeting some buying interest, and bounced modestly to close the day a handful of pips above the 106.00 mark.
Key Quotes:
"With Japanese markets closed for the Golden Week holidays, chances of a BOJ's intervention are limited, yet the risk of a surprise announced could not be dismissed.
In the meantime, market players seem determinate to test BOJ's convictions by pushing the pair towards the 105.00 line in the sand, established a couple of weeks ago, something that should be favored by the continued negative mood."
Key Quotes:
"With Japanese markets closed for the Golden Week holidays, chances of a BOJ's intervention are limited, yet the risk of a surprise announced could not be dismissed.
In the meantime, market players seem determinate to test BOJ's convictions by pushing the pair towards the 105.00 line in the sand, established a couple of weeks ago, something that should be favored by the continued negative mood."