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USD/JPY slow to react to Kuroda comments


FXStreet (Moscow) - USD/JPY dropped from Asian high of 107.24 towards 107.18 on the back of Kuroda comments, but the bearish momentum is waning


USD/JPY dipped from Asian high, but reaction to Kuroda speech is muted so far. The Governor of the Bank of Japan repeated that he would not hesitate to act if needed to reach 2% inflation target and stressed worsening domestic and external macroeconomic environment. At the same time he added that the above said inflation target might be reached in 2015 financial year. These comments raise questions about further QE in Japan, though investors are not inclined to jump to the conclusions.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 107.19 with support below at 107.00, 106.82 and 106.63 with resistance above at 107.38 107.57, and 107.75. Hourly Moving Averages are bullish, with the 200SMA bullish at 106.20 and the daily 20EMA bullish at 105.22. Hourly RSI is bullish at 53

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