USD/JPY 1 minute chart
of sell the facts It looks like the game is starting to move, but I think traders have already spent a week preparing for it. There were so many reports that the Bank of Japan was ending negative interest rates and abolishing its yield curve control policy that the recent announcement felt quite numbing. The latest information leak is a smart approach by Japan’s central bank to control market overreaction. But that means the reaction to this fact has not been as strong as many expected.
Following the announcement, USD/JPY experienced some fluctuations between 149.00 and 149.70, and has now risen to around the 149.60 level. The high extended to 149.90 before settling around the current area.
I don’t have anything to comment on at the moment as the main resistance and offer is around 150.00. And considering how well traders have prepared for today’s events, there are no surprises that will shake things up.
As I said yesterday, if the yen finds a reason to rise further, it will take more than the Bank of Japan.
