In today’s meeting the BOJ Governor Kuroda’s speech has made a quite blinker and expressed a heavy sigh of relief. While the improvement in inflation has remained the top priority as the high favorable employment conditions along with that it focusses on the wage hike that has an annual rate hike of more than 2% rate. As the government is about to pump additionally ¥7 trillion in Quantitative and Qualitative Easing (QQE) policy.
While today’s Intraday charting, the currency pair “USD/JPY” suggest a slightly bullish trend which finds a support at a level ranging from 117.56. If the currency pair manages to break a support area of 117.56 level, then the currency pair might stand slightly at a bullish level, but since the resistance level of 119.05 level seems to be a week. However, it’s not a time to rejoice as the market are still at revival phase.