Forex: USD/JPY dips to 94.10 lows post-Kuroda

FXstreet.com (Barcelona) - USD/JPY has been accelerating loses as of late, last at fresh session lows 94.12, down from NY session highs at 94.53, at the time new BoJ chief Kuroda is speaking before parliament. The recently elected BoJ governor is not giving much of new details ahead of upcoming April 04 BoJ meeting, which is not helping Yen sellers to pursue further loses but instead take some quick profits. Fin Min Aso is currently speaking, saying 2% inflation target in 2 years is not an easy task, ForexLive reports.

As reported by ForexLive's editor Eamonn Sheridan, Kuroda has said to have “No intention of buying foreign bonds now – many other options,” while Chinese markets have opened with big loses, now Shanghai down more than -2%, while Hong-Kong -1%, on fears of possible tightening policy from the PBoC, and escalating tensions in Korea and Malasya sea. Nikkei index is down -1.17%, below the 12350 points.

Immediate support to the downside for USD/JPY lies at recent session/yesterday's lows 94.09/01, followed by Tuesday's lows at 93.85, and Monday's lows at 93.50. To the upside, closest resistance shows at NY session lows 94.53, followed by yesterday's highs 94.85, and Monday's weekly highs at 94.95.