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Forex pairs in this Article » EUR/JPY (Barcelona) - EURJPY is currently at 119.19, same highs the cross printed on Jan 11, Friday, where it closed that week. Off recent session lows at 119.03, EURJPY is down -0.65% so far for the week, following a initial spike to recent session highs at 119.69, on headlines suggesting the BoJ inflation target of 2% would be set for the 'near term.' While these lines are written, EURJPY has moved 20 pips higher, last at 119.39.

Today, all attention is focused on BoJ's meeting, which has started sooner than usual, and is expected to end anytime from 02:00 GMT to 03:30 GMT. Fin Min Amari is attending the meeting, which is the first one since the new government in Japan came to power. The Yen is experiencing some intraday volatility around the meeting, while Nikkei trades close to session highs, up +0.35% for the day so far.

Immediate resistance to the upside for EURJPY shows at recent session and NY session highs 119.68, followed by Jan 15 highs and Friday's weekly close at 119.98, and Monday's highs at 120.27. To the downside, closest support lies at recent session/yesterday's/Jan 14 lows 119.02/118.89, followed by Jan 15 lows at 117.64, and Jan 16 lows at 116.47.
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