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USD/JPY dust settled leading up to BOJ conclusion

FXStreet (Guatemala) - USD/JPY is trading at 104.87, up 0.08% on the day, having posted a daily high at 104.92 and low at 104.77.

USD/JPY is levelled out after commotion around the appointment of Yasuhisa Shiozaki as welfare minister in Japan who is to supervise the country’s pension pot that had stock markets in Japan rise on speculation from investors that were expecting more buying of domestic assets on a large scale, and subsequently lead to pressure on the Yen and buoyed the cross above 105 at yearly highs. Now though, wit the dust settled, we await the BoJ coming up and concluding today. “A steady hand is assured and it is doubtful that Governor Kuroda will change his tune noticeably in the press conference at 4:30pm Syd/2:30pm Sing/HK, despite a poor run of data”, as Sean Callow, analyst at Westpac Banking Corporation ABN explains.

USD/JPY support and resistance

Support levels: 104.75 104.40 104.00

Resistance levels: 105.45 105.90 106.30

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