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USD/JPY lifts towards 148 following BOJ comments
A little earlier today the USD/JPY rose above the highs seen yesterday, at 146.36 and through a technical resistance level at 146.48 and that rise extended close to 148. The driver for the further recovery in the dollar came after the Bank of Japan deputy governor erased market fears of further BOJ rate hikes in the near future. His comments also endorsed the continuation of an easy money stance from the Japanese Central bank. That spurred the Nikkei to above 35k and close to 36k, which in turn helped the Yen to weaken and lift the USD/JPY to a session high at 147.90. It is off that high now though. The next resistance level is now at 149.46 and thereafter lies the 200 day moving average, in place just now at 151.50. The low seen earlier today was set at 144.29. The USD /JPY is currently trading at 147.49
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