Chart - Courtesy Trading View
USD/JPY spiked over 2.5% to break past 131 barrier and was trading at 131.33 at around 05:00 GMT.
The Japanese yen was dumped across the board after the Bank of Japan (BoJ) unanimously decided to keep its yield curve controls in place.
The central bank maintained its short-term policy interest rate at negative 0.1%, and kept its long-term interest rate at 0%.
BoJ maintained ultra-low interest rates, including its 0.5% cap for the 10-year bond yield, defying market expectations it would phase out its massive stimulus programme.
The 10-year yield which had edged above the policy cap of 0.5% to an intraday high of 0.5100%, retreated sharply to 0.360% on Wednesday.
Japan Nationwide consumer price index inflation data for December is due this Friday, and is widely expected to show prices at over 40-year highs. Inflation is expected to rise to 4%- twice the BOJ’s 2% annual target.
Major Support Levels:
S1: 130.68 (200H MA)
S2: 129.01 (5-DMA)
Major Resistance Levels:
R1: 131.78 (21-EMA)
R2: 132.87 (Previous week's high)
Summary: USD/JPY technical bias has turned bullish on the intraday charts. Price action has edged above 200H MA. Major trend however, remains bearish. Decisive break above 21-EMA could change near-term dynamics.


FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro: GBP/USD gains as UK manufacturing PMI beats expectations
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
EUR/JPY Bearish Outlook Persists: Ifo Weakness Caps Upside, Sell Rallies Targeting 180 Below 183 Resistance
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies Pivot(Major) 



