European session welcome

Good morning/afternoon/evening ForexLive.

Kuroda and the BoJ are messing with my routine here! Anyway, we got there in the end so thanks to Eamonn for covering the BoJ decision headlines. Give them a read over and then come back and we'll go from there.

So how abut the chart. Take a look at USD/JPY below:

Some early technical thoughts:

  • I've been talking about the coiling price action into the release and there's the pop.
  • Happens to be at daily retest of previous resistance as support.
  • Both horizontal and trend line confluence.