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Nothing To Move The Needle From BoJ Gov Kuroda

DOLLAR-YEN

USD/JPY has added a handful of pips and last sits +6 pips at Y105.45, with e-minis operating in the green. A clearance of Oct 13 high of Y105.63 would allow bulls to set their sights on Oct 7 high & bull trigger located at Y106.11. Bears keep an eye on Oct 14 low of Y105.04. A breach of that level would give them a green light for targeting Oct 2 low of Y104.94, a key near-term support.

  • BoJ Gov Kuroda spoke over the weekend but offered no fresh insight, flagging no intention of changing the Bank's inflation-targeting policy/forward guidance and reiterating readiness to take further steps if needed.
  • Japanese trade balance comes out shortly. Final machine tool orders are due Tuesday, CPI & flash Jibun Bank PMIs are due Friday.

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