JPY Trading Outlook (19-02-2014)

USD/JPY: The bulls gained more confidence after BOJ announcement as loan facilities had been extended by a year and the amount available was doubled but current policy left on hold for now. However, poor economic data from U.S. will keep this pair on a range trade of 101.60-102.80.

EUR/JPY: EUR/JPY boosted up strongly from both yen cross and also the strong EUR/USD. This pair rallied from a low of 139.48 to a high of 141.02, targeting 141.20.

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