The BOJ kept interest rates steady at the Friday meeting. In reaction to the statement by the Bank of Japan’s Monetary Policy Council, the demand of the Japanese yen increased, displaying a correction in the USDJPY chart.
In the short term, more price correction is expected whilst on a mid-term basis a bullish trend will prevail.
Support levels: 109.2 & 108.11
Resistance levels: 111.40, 112 & 113.48
