The early Asia spike has now dissipated some way towards filling the gap from the NY close.
Currently we sit at 94.05 with some way to go to that friday close just below 93.50.
While the news of the likely appointment of the uber-dovish Kuroda is in the market the announcement when it comes may well be met with a ‘sell the fact’ response with long market.
The Abe-Kuroda partnership will doubtless in turn give the market further bullish impetus however in the interim we can expect the 92.00-50 to give serious support and approaches to the 95.00 option-protected will similarly attract selling interest to give us a range to work.
Large stops when 95.00 gives way !
4H USDJPY
