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USD/JPY nails Fibonacci level and turns lower as Ueda speaks

Following an earlier update here, the USD/JPY did rise to reach the noted Fibonacci level at 158.21. In fact it just surpassed that level, when it reached 158.26. However, it has just fallen following comments from the BOJ boss, Ueda. He has just spoken in the BOJ post policy press conference, stating and confirming the BOJ will reduce its bond buying program at the next meeting. The Just now took a dive towards 156.50 in what was a sharp move lower following those remarks. That has impacted the EUR/JPY in particular too. So, the EUR/USD has now taken out the 1.0721 level and the previous low at 1.0720 and potentially tripped a few stops below that level too. The USD/JPY price action is rapid right now and currently rebounding from the immediate lows seen a short while ago. The USD/JPY is currently trading back above 158 now 
 

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