Forex: USD/JPY eases to the 82.10/20 zone

FXstreet.com (Barcelona) - Renewed selling pressure in the yen has followed today's comments by BoJ officials, pushing the USDJPY as high as 82.35, although falling since then to the actual region at 82.10

Derek Halpenny, European Head of Global Markets Research at BTMU, commented, "BOJ Deputy Governor Nishimura stated that the BOJ was "ready for bold, appropriate action when needed". This is hardly ground-breaking stuff from Nishimura who is merely stating the obvious and a commitment to carry on doing what it is doing now or extending it further into the future, which is unlikely to be factors sustaining yen selling. Yen selling based on Abe becoming PM is more about a fundamental shift in the behavior of the BOJ in its conduct of monetary policy and that shift, if it materializes, will be slow in coming".

USDJPY is now up 0.30% at 82.14, facing the next resistance levels at 82.35 (high Dec.5) ahead of 82.50 (high Dec.3) and then 82.75 (high Nov.30).
On the downside, a break below 81.79 (low Dec.5) would open the door to 81.72 (low Dec.4) and finally 81.68 (low Nov.28).