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USD/JPY rebounds off lows after BOJ raises OCR by 0.15%
A short while ago the Bank of Japan raised their official cash rate by 0.15%, talking it from 0.10% to 0.25%. The initial reaction in the USD/JPY saw the dollar fall to a low at 151.64, but then rebound just as fast, close to 154. However the price action is fast and furious out there just now and the dollar has pared that rebound now. Prior to this decision the markets were not really expecting the BOJ to move today, but comments released yesterday afternoon had alerted the markets to the prospect of the BOJ moving today and that is why the USD/JPY had fallen back, after touching 155 this time yesterday morning. The USD/JPY had closed in the US last night at 152.77. The next support level, as noted all last week remains at 151.10. The dollar is currently trading at 152.75
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