The BOJ left the asset purchase size unchanged, but cut the size of fixed rate operations by Y5 trn. The BOJ left rates unchanged at 0.1%. USD/JPY traded a range of Y79.48 to Y99.96, having spike to the session high at Y79.96 in the immediate wake of the BOJ policy decision. However, the pair was unable to hold the spike, reversing course almost immediately, falling toward session lows, trading at Y79.52. EUR/JPY mirrored the move spiking to Y97.90, before slipping to Y97.25 after the policy decision. Into Europe and USD/JPY continued on a heavy tone, sharp EUR/USD slippage pressed the pair to Y79.24 lows, later nudging higher to Y79.30. Stops noted on a break of Y79.20 and Y79.10 with key tech support at Y79.02 from the 200 Day MA, ahead of reported semi-official demand at Y79.00. EUR/JPY saw sharp falls in tandem with EUR/USD to Y96.76, before making an attempted recovery to Y96.90. Traders look to the $1.2200 option barrier for direction ahead of NY.
EasyForexNews Research Team