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4 Apr 2013
Forex: USD/JPY jumps above 93.5 as BoJ delivers
FXstreet.com (Barcelona) - After a long waiting period since the official delivery time, BoJ has finally released the monetary policy statement, and USD/JPY spikes from near session lows at 92.90 to current session highs at 93.35 and moving higher. The pair is still -0.8% lower for the week so far, while Nikkei -1.12% for the day.
As broadly expected, BoJ will buy longer maturity bonds. More or less all measures taken are what market expected, and some analysts are already calling for missing some more extra moves. USD/JPY is last at fresh session highs 93.71, slightly above yesterday's highs.
Immediate resistance to the upside for USD/JPY shows at Friday's lows 93.85, followed by Monday's weekly highs at 94.37, and March 27 highs 94.90. To the downside, closest support lies at yesterday's highs 93.65, followed by March 25 lows at 93.51, and previous session highs at 93.10.
As broadly expected, BoJ will buy longer maturity bonds. More or less all measures taken are what market expected, and some analysts are already calling for missing some more extra moves. USD/JPY is last at fresh session highs 93.71, slightly above yesterday's highs.
Immediate resistance to the upside for USD/JPY shows at Friday's lows 93.85, followed by Monday's weekly highs at 94.37, and March 27 highs 94.90. To the downside, closest support lies at yesterday's highs 93.65, followed by March 25 lows at 93.51, and previous session highs at 93.10.