FxWirePro: USD/JPY hits fresh 5-month high at 110.77 after BOJ governor Kuroda’s comments
Friday, November 18, 2016 3:31 AM UTC
- USD/JPY is currently trading around 110.65 marks.
- It made intraday high at 110.77 and low at 109.97 levels.
- Intraday bias remains bullish till the time pair holds key support at 107.77 levels.
- A daily close above 110.50 will take the parity higher towards key resistances around 110.83, 111.44, 112.58 and 114.55 levels respectively.
- On the other side, a sustained break below 107.77 will drag the parity down towards key supports around 106.72, 106.03, 104.96, 103.75, 102.67, 101.56, 100.30, 99.27 and 98.78 levels respectively.
- BOJ Governor Kuroda - BOJ conducted fixed-rate operations because yields in 2-5 yr zone rose rapidly.
- BOJ Governor Kuroda - Felt rise in yields in 2-5 year zone was not appropriate.
- BOJ Governor Kuroda - BOJ is prepared to conduct fixed-rate operations in an unlimited amount if needed.
- BOJ Governor Kuroda - Not ruling out fixed-rate operations below market yields.
- BOJ Governor Kuroda - Desirable for Forex to move stably in line with economic fundamentals.
- BOJ Governor Kuroda - No comment on Forex levels or daily moves.