19 Dec 2014
USD/JPY edges higher after BOJ keeps Policy Intact
FXStreet (Mumbai) - The Japanese yen weakened against the US dollar following the release of Bank of Japan’s (BOJ) monetary policy statement sighting no policy changes.
USD/JPY hit a high of 119.10 levels immediately after the policy release, trading up 0.17%, on the day. The US dollar strengthened against the Japanese yen after the BoJ made no policy adjustments with the last Monetary Policy Statement on the year, as was widely expected by market participants.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.31 (Dec 18 High) levels and above which it could extend gains to 120 levels. To the downside immediate support might be located at 118.48 (200-day SMA), below that at 118 levels.
USD/JPY hit a high of 119.10 levels immediately after the policy release, trading up 0.17%, on the day. The US dollar strengthened against the Japanese yen after the BoJ made no policy adjustments with the last Monetary Policy Statement on the year, as was widely expected by market participants.
USD/JPY Technical Levels
To the upside, the next resistance is located at 119.31 (Dec 18 High) levels and above which it could extend gains to 120 levels. To the downside immediate support might be located at 118.48 (200-day SMA), below that at 118 levels.