USD/JPY lined up for BoJ

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.73, up 0.03% on the day, having posted a daily high at 101.78 and low at 101.66.

USD/JPY is lined up for the BoJ tonight who will conclude its Monetary Policy Meeting. Strategists at TD Securities explained that this should be a relatively staid affair. “The markets are not expecting anything substantial to come out of this meeting, as the BoJ is seen holding its overall monetary policy stance unchanged well into the second half of the year”. They noted that Governor Kuroda's press conference could provide some color regarding the BoJ's latest thinking; “We would be particularly interested in any comments regarding the highly anticipated reforms currently under consideration by Abe's administration and the Diet, some of which will have material implications for the future of monetary policy in Japan.

USD/JPY Levels

With spot trading at 101.73, we can see next resistance ahead at 101.78 (Daily High), 101.82 (Daily Classic S1), 101.86 (Hourly 20 EMA), 101.88 (Weekly Classic S1) and 102.07 (Weekly Low). Support below can be found at 101.70 (Daily Open), 101.66 (Daily Low), 101.61 (Yesterday's Low), 101.56 (Daily Classic S2) and 101.55 (Daily 200 SMA).

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