The sharp move higher following the comments by Kuroda saw USD/JPY pause at the 98.35-40 region with the pullback so far having paused ahead of the 97.65-70 region that previously capped on the hourlies. We will look for an hourly close below this level to see attention return to the Bank of China supported 97.00 level. Interesting to note that the USD/JPY rally paused at the 21-DMA so we will look for a close above to see the focus return to the 100.00 level.
