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FxWirePro: Talks of BoJ in the markets, USD/JPY bounces 40 pips off lows

Declines in USD/JPY have been too heavy, the BOJ may be trying to slow down the current pace of Yen appreciation.

  • USD/JPY sees a sudden 40 pips bounce off lows, from 110.89 to 111.29 levels.
     
  • The pair is extending higher, is currently trading at 111.45.
     
  • Strong support is seen at 110.70 levels. If the pair manages to hold above, short-term reversal in trend likely.
     
  • Market Data
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