Yen reversal

BoJ decision musings:

  • Full BoJ Reuters headlines listed here.
  • USD/JPY slightly up
  • 10 year yields slightly down.
  • USD/JPY pings up, out of technical triangle pattern after whipsawing pre-announcement.
  • BoJ essentially maintains their 10 year bond yield target.
  • Allows more flexibility in bond operations.
  • A bit of a let down after waiting so long. Maybe the tea, biscuits and conversation was just too good to leave early.

The hourly chart:

Intraday chart musings:

  • Giving back initial rip.
  • The fact we didn't get much new info, means we're pretty much where we began.
  • Zzzz after that wait...
  • Back to the higher time frame technical we've been talking about.

The higher time frame, daily chart:

Higher time frame chart musings:

  • Retest of previous resistance turned support.
  • Both horizontal and trend line confluence.