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Forex: USD/JPY selling off ahead of BoJ

FXstreet.com (Barcelona) - USD/JPY is currently selling of at fresh session lows 98.61 ahead of second BoJ meeting for the month and with Kuroda as new governor. Nikkei index has also been sold to fresh session lows, sitting at 13870 at the lunch break, down -0.43% for the day, following fresh almost 5-year highs shy of the 14k mark.

Although there is expectation on what new Kuroda might come up to, as well as new inflation targets for year end, he already stated that most of the measures he was ready to take have been already taken at the first meeting back in April 04. Now the pair is trading where it was past Tuesday after the AP false twit on the White House attacks, down -0.9% for the week so far, on the back of broad USD selling.

Immediate support to the downside for USD/JPY lies at fresh session/April 09 lows 98.55, followed by Tuesday's lows/April 17 highs at 98.45, and April 12 lows at 98.07. To the upside, closest resistance shows at London session lows 98.97, followed by NY session highs at 99.50, and Wednesday's highs at 99.77.

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