BOJ trimmed purchases of long duration bonds for the first time since June 2018. BOJ news seems to have put brakes on USD/JPY rally. The bullish view, however, will remain valid as long as the exchange rate is held above 110.00. USD/JPY is currently trading at 110.40, having clocked a 2019 high of 110.54 earlier today. The currency pair closed well above 110.00 yesterday, confirming a symmetrical triangle breakout on the 4-hour chart. The path of least resistance, therefore, is to the higher side. The bullish momentum, however, seems to have stalled in the last few minutes, courtesy of the Bank of Japan’s decision to cut purchases of long-term bonds. The central bank has decided to buy JPY 180 billion worth of Japanese government bonds maturing in 10 to 25 years – down JPY 20 billion from the previous operation. The BOJ has made it clear time and again that changes in the amount of bonds purchases at routine operations do not imply policy change. Further, the S&P 500 futures are reporting a 0.33 percent gain at press time. USD/JPY, therefore, could soon resume the post-triangle breakout rally toward 111.38 (Oct. 26 low). Technical Levels USD/JPY Overview: Today Last Price: 110.45 Today Daily change: 5 pips Today Daily change %: 0.05% Today Daily Open: 110.4 Trends: Daily SMA20: 109.53 Daily SMA50: 110.35 Daily SMA100: 111.72 Daily SMA200: 111.28 Levels: Previous Daily High: 110.47 Previous Daily Low: 109.7 Previous Weekly High: 110.16 Previous Weekly Low: 109.43 Previous Monthly High: 110 Previous Monthly Low: 104.75 Daily Fibonacci 38.2%: 110.18 Daily Fibonacci 61.8%: 109.99 Daily Pivot Point S1: 109.91 Daily Pivot Point S2: 109.42 Daily Pivot Point S3: 109.13 Daily Pivot Point R1: 110.68 Daily Pivot Point R2: 110.96 Daily Pivot Point R3: 111.45 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/AUD Technical Analysis: Buyers continue to wait for 1.8160 FX Street 4 years BOJ trimmed purchases of long duration bonds for the first time since June 2018. BOJ news seems to have put brakes on USD/JPY rally. The bullish view, however, will remain valid as long as the exchange rate is held above 110.00. USD/JPY is currently trading at 110.40, having clocked a 2019 high of 110.54 earlier today. The currency pair closed well above 110.00 yesterday, confirming a symmetrical triangle breakout on the 4-hour chart. The path of least resistance, therefore, is to the higher side. The bullish momentum, however, seems to have stalled in the last few minutes,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.