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FxWirePro: Yen gains in early hours of Asia after Kuroda’s statements

  • USD/JPY is currently trading around 101.02 marks.
     
  • It made intraday high at 101.40 and low at 100.94 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 101.76 marks.
     
  • A daily close above 102.58 will take the parity higher towards key resistances around 103.78, 104.80, 106.12 and 107.46 levels respectively.
     
  • On the other side, a sustained break below 101.00 will drag the parity down towards key supports at 100.19, 99.27 and 98.82 levels respectively.
     
  • Today BOJ Governor Haruhiko Kuroda spoke at the Branch Managers meeting, in Tokyo.
     
  • BOJ Gov Kuroda - Japan's economy continues to recover moderately as a trend and expected to expand moderately.
     
  • BOJ Gov Kuroda – Japan’s consumer inflation likely to be slightly negative or around zero pct for time being.
     
  • BOJ Gov Kuroda – Japan’s financial system maintaining stability.
     
  • BOJ Gov Kuroda – BOJ will take additional easing steps via quantity, quality of asset buying and interest rates if needed.
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