Looks like we had a ‘buy the rumour sell the fact’ over the BOJ announcement of further asset purchasing following the conclusion of the BOJ meeting. A stop hunt ended after the pair plunged through 89.00, but halted at 88.90 before recovering to 89.28.
The move also took out some sell stops through 119.00 in EUR/JPY to 118.65 before recovering to 119.16 .
There’s likely to be some further consolidation, before a move back higher, but the Nikkei 225 is now off its lows.
USD/JPY is also being lent some support from AUD/JPY which has so far failed to break down through its daily tenkan line (93.63) hitting lows of 93.70 before regaining 94.00
USD’s presently around 89.20 EUR around 119.05 and the AUD/JPY at 94.10
