No clear forward guidance and “shadow accommodative vibes” in BoJ’s latest monetary policy led to a continuation of the rally in USD/JPY (JPY sell-off).
Cautious now for USD/JPY bulls as it is now resting at the 20/151.95 major resistance zone where both verbal and real FX intervention has occurred in the past.
BoJ Governor Ueda’s press conference later is likely to be critical with near-term key support at 148.70 to watch on the USD/JPY.
Bank of Japan (BoJ) has not created a “shock” to the
Mar 19, 2024
by Kelvin Wong
