FxWirePro: EUR/JPY retreats from post-BoJ spike, focus now on Kuroda’s presser

EUR/JPY reverses a BOJ-led spike to 132.30 and fell back to 130.40, but downside found support at 130.36 (1H - 5DMA).

• Price action is now consolidating above 131 levels, currently at 131.30, further bullishness only on break above 132.25.
   
• Stochs are at overbought and show a bearish crossover, but we will need further confirmation for downside.
   
• RSI is biased higher and has room to run, we will look for spikes to go short, bearish invalidation on breaks above 132.25.
   
• Breaks above 132.30 could see the pair at 132.80/133/133.90 levels.
   
• 131.77 (Dec 31st highs) and 130.36 (1H - 5DMA) are immediate resistance and supports for the pair.
   
• Focus now remains the BOJ press conference, with Kuroda's comment likely to grab a lot of attention.