FxWirePro: USD/JPY plummets over 100 pips after BoJ inaction, hits lowest since Sept 2014, Kuroda’s presser in focus

• USD/JPY plunged to fresh multi-month troughs at 104.55 after BOJ’s left monetary policy settings unchanged.
   
• The Federal Reserve kept interest rates unchanged overnight but signaled it still plans two rate increases this year.
   
• Fed policymakers gave no indication of when they might raise rates, though their projections leave the door open to an increase next month.
   
• USD/JPY heavily sold-off, despite the BOJ slashing the CPI forecasts, while maintaining Japan's economy continues to recover moderately as a trend.
   
• Next in focus for the major remains the BOJ Governor Kuroda’s press conference scheduled ahead of the European open.
   
• Downside sees little support till 104.03 (Sept 2014 low). Upside finds resistance at 105 and then 105.50 (trendline).
   
• Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-slips-below-106-handle-hits-5-week-low-of-10581-bias-lower-220788) has hit all targets.
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Recommendation: Some consolidation likely at lows. Book full profits for now.