USD/JPY Breaks Through ¥150.00 After BOJ Meeting!

<p>&nbsp;The central bank of Japan (BOJ) kept interest rates unchanged at -0.10% as expected with a 10-year JGB bond yield target of between 0.5% to 1.0%.</p><p><br /></p><p>The BOJ also increased flexibility on the Yield Curve Control (YCC) to support economic activity and increase wage rates.</p><p><br /></p><p>The Yen experienced a significant decline in the Asian session this morning with the reaction to the BOJ meeting results.</p><p><br /></p><p>Price movements can be observed on the chart of the USD/JPY currency pair which is starting to show a change in price direction.</p><p><br /></p><p>At the opening trade of the beginning of the week yesterday, the price showed a lower decline to the level of 148.800 which continued the movement pattern at the end of last week.</p><p><br /></p><p>However, the surge is showing again this morning until the price has broken through the important zone at 150.00.</p><p><br /></p><p>A bullish signal is observed when the price surge has broken through the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the USD/JPY chart.</p><p><br /></p><p><br /></p><p>If the price increase continues to be driven to a higher level, it is expected that the high level reached last week will be the target to be touched again, which is at 150.780.</p><p><br /></p><p>And it's not impossible for prices to continue moving higher, but investors will remain alert for any shocks to the Yen.</p><p><br /></p><p>A further drop in price can be expected to occur with the price once again moving below the 150.00 level again.</p><p><br /></p><p>A break below the MA50 support level would expect the previous bearish pattern to continue above the level reached earlier in the week.</p>