EUR/JPY CONTINUED GAINS SEEM LIKELY
Haruhiko Kuroda, Governor of the Bank of Japan (BOJ), expressly denies expectations of monetary and fiscal policy tightening in the coming months.
He said Japan is in no position to tighten monetary policy.
This clearly indicates that the yen might be significantly weaker.
Technically, price is currently treading above 138.938.
We expect it to find resistance at around 141.629 to 143 area.
However, upside momentum may be nullified if a reversal happens to occur when price pullbacks and breaks below the turning point 138.938
He said Japan is in no position to tighten monetary policy.
This clearly indicates that the yen might be significantly weaker.
Technically, price is currently treading above 138.938.
We expect it to find resistance at around 141.629 to 143 area.
However, upside momentum may be nullified if a reversal happens to occur when price pullbacks and breaks below the turning point 138.938
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