USD/JPY up to a high of 110.86 on the day now
The yen is inching lower following the BOJ decision earlier in the day. The BOJ kept monetary policy unchanged as expected, but downgraded their inflation assessment a little.
USD/JPY now runs into resistance from the November low @ 110.84 and the 61.8 retracement level @ 110.85 - an area which stalled the upside move earlier in the week on Wednesday following the FOMC meeting.
This will be a key handle for buyers to break above in order to make a run towards the May highs @ 111.40 once again.
Kuroda's press conference will be coming up later in the day - expected some time around 0600 to 0630 GMT - so that will be the next item to watch and we'll have to see if he will have any comments regarding exit discussions/strategy and whether or not there are any changes to the inflation outlook after the assessment downgrade.
