30 Apr 2014
USD/JPY weakens ahead of BoJ
FXStreet (Bali) - USD/JPY broke below the 102.50 support ahead of the BoJ policy decision, setting a session low of 102.37.
According to Valeria Bednarik, Chief Analyst at FXStreet.com: "Short term buyers stand in the 102.30/40 area and as long as above it the pair may attempt to push higher towards 103.00 price zone, yet a break below should see bearish trend returning, pointing then for a test of 101.60/80 price zone."
Wit regards to the BOJ policy outcome, no changes are expected to be announced by Governor Kuroda's board, who will remain side-lined for the months to come as the economy gains a more solid footing and inflation numbers are in line with the central bank's projections of achieving a 2% sustainable level.
According to Valeria Bednarik, Chief Analyst at FXStreet.com: "Short term buyers stand in the 102.30/40 area and as long as above it the pair may attempt to push higher towards 103.00 price zone, yet a break below should see bearish trend returning, pointing then for a test of 101.60/80 price zone."
Wit regards to the BOJ policy outcome, no changes are expected to be announced by Governor Kuroda's board, who will remain side-lined for the months to come as the economy gains a more solid footing and inflation numbers are in line with the central bank's projections of achieving a 2% sustainable level.