We get the BOJ announcement at the conclusion of their two-day policy meeting. While we are not expecting anything of much significance to be announced from Shirakawa’s last meeting, if there is anything we expect it sometime between 0300GMT – 0530GMT. Earlier in this time window is most likely today.
USD/JPY has failed extend its move much above 94.00 despite tripping some stops above the figure in New York time.
On the downside:
- There are bids building 93.65/75
- and again 93.45/55
- Recent lows 93.00/20 hold bids if it should dip that low
Topside:
- offers 94.20/30
- and ahead of 94.50
- and 95.00