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FxWirePro: Japanese yen hits fresh 8-month low in early Asia after BOJ’s monetary policy meeting minutes

USD/JPY is currently trading around 114.64 marks. It made intraday high at 114.73 and low at 114.00 levels. Intraday bias remains bullish till the time pair holds key support at 114.00 marks. A daily close above 114.00 w…

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FxWirePro: Japanese yen hits fresh 8-month low in early Asia after BOJ’s monetary policy meeting minutes
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  • USD/JPY is currently trading around 114.64 marks.
     
  • It made intraday high at 114.73 and low at 114.00 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 114.00 marks.
     
  • A daily close above 114.00 will take the parity higher towards key resistances around 114.88, 115.50, 117.21 and 118.18 levels respectively.
     
  • On the other side, a sustained close below 114.00 will drag the parity down towards key supports around 113.54, 112.95, 111.99, 111.47, 110.99, 109.88, 108.12, 107.32, 106.72, 106.03 and 104.96 levels respectively
     
  • BOJ minutes - One member said current yield curve not sufficient to achieve 2 pct inflation around fiscal 2019/20.
     
  • BOJ minutes - Most members shared view that BOJ should stick with current policy guidelines.
     
  • BOJ minutes - One member said CPI is likely to rise for time being but gains will be temporary.
     
  • Japan Oct composite PMI (manufacturing and services) rises to 5-month high of 53.4 from 51.7 in Sept.
     
  • Japan Oct services PMI climbs to 26-month high of 53.4 from 51.0 in Sept, on sharp rise in new orders.
     
  • Tokyo's Nikkei share average opens up 0.33 pct at 22,612.96.

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