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Forex pairs in this Article » EUR/JPY (Barcelona) - Yen selling on Shinzo Abe's comment in regard to the inflation target wasn't sustained and UR/JPY gains during the Asian session were capped at 110.75, allowing then what it would become a fully retracement back to 110.40 zone following the European opening slide down.

The recently elected Japanese Prime Minister Shinzo Abe said today that he wants an "accord" with the Bank of Japan to raise the inflation target to 2%. This news doesn't come as a shocker as he has been calling for that target during the LDP party campaign. analysts point to resistance at 110.75, 111.15 and 111.75. On the downside, supports might be found at 110.45, 109.90 and 109.10.
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