Key Levels Of GBPJPY & EURJPY – BOJ Trims Bond Purchases

The safe haven currency Japanese Yen took a turn when the Bank of Japan's governor, Haruhiko Kuroda...


The safe haven currency Japanese Yen took a turn when the Bank of Japan’s governor,  Haruhiko Kuroda, trimmed the amount of long-dated Japanese government bonds it would buy. The Japanese central bank diminished the number of JGBs (Japanese Government Bonds) with 25 to 40 years of maturity by the same amount to ¥90 billion.

Fellas, it’s sort of a contractionary monetary policy. Seems like, the BOJ is also following the footstep of the US central bank. In response, we may see bullishness in Japanese Yen. Let’s take a look at the trading levels now.

EURJPY – Major Trading Levels

Support     Resistance

133.84    135.27

133.22    136.08

132.41    136.7

Key Trading Level:    134.65

GBPJPY – Major Trading Levels

Support     Resistance

1.3502    1.3579

1.3464    1.3618

1.3425    1.3656

Key Trading Level:    1.3541

If you are looking to trade these cross, make sure to monitor the U.K’s Manufacturing Production from today and ECB Monetary Policy Meeting Accounts tomorrow. Good luck and keep following for more exciting trades.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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