Forex: USD/JPY shakes both sides post-BoJ; holds above 84.00

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FXstreet.com (Barcelona) - After 2 hours of finally deliberations BoJ finally called for an additional 10 trillion yen expansion of the asset purchase ( AP ) program to 101 trillion yen, while will examine the inflation goal at Jan 22 meeting, sending the pair USD/JPY firstly to fresh session highs at 84.39 after a 2-hour 6-8 pip range trading, in what it seems a clear shorts squeeze move, for then moving to fresh session lows at 83.98.

Last at 84.18, USD/JPY looks still trapped in last hours trading range, with demand above the 84 round figure, or unwillingness to sell deeper, and selling interest above 84.40, or unwillingness to buy higher. Meanwhile Nikkei index trades above the 10100 points mark, down -0.53% for the day.

Immediate support to the downside for USD/JPY shows at recent session/yesterday's lows 83.98/93, followed by March 27 /April 02 highs 83.30/9, and Nov 22/Dec 07 highs 82.83/4. To the upside, closest resistance shows at mentioned session highs 84.40, followed by Monday's highs 84.48, and yesterday's highs at 84.60.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

Referenced Stocks: AP

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