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USD/JPY reaches 144 after BOJ remains on hold
The USD/JPY was already on the rebound earlier today after closing in the US last night at 143.07. The dollar was approaching 143.25 ahead of Bank of Japan monetary policy decision. Well, the BOJ have done as many suspected and left their OCR on hold at 0.5%. However, two things to note about that. First, the vote was unanimous and second the BOJ have slashed their growth forecasts, which underpins the prospect of them remaining on hold for perhaps even longer than previously envisaged. Hence the USD/JPY has lifted towards 144 and in the process lifted above the 21 day moving average, which has fallen to 143.77 today. The previous rebound high was set at 144.03 on April 15. So, as you can see, the dollar is very close to that level right now. The USD/JPY is currently trading at 144.00 which is the high so far
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