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Forex: USD/JPY steady; BoJ Shirakawa crossing the wires

By FXstreet.com,  January 14, 2013, 07:54:00 PM EDT

FXstreet.com (Barcelona) - The USD/JPY managed to retain its bullish tone on Monday, closing at 89.49, only to currently attempting a new rise toward the 89.60, with bids coming, partly owed to a Shirakawa speech at a BOJ branch manager meeting in Tokyo. The president of the central bank said nothing new though, pointing at the weak state of the Japan economy, reminding the market that BOJ will conduct appropriate monetary policy, including powerful easing. He keeps repeating that Japan economy should come afloat and return to a moderate recovery path. Next resistance for USD/JPY is found at 89.66, Monday high, with a clean break exposing the round number 90.00.




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

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