With 0.11% daily declines, the USD/JPY could face next supports at 92.25 (intraday high), 92.80 (100-hour SMA) and 93.00 (psychological level). On the downside, next supports could be found at 91.10 (Feb 26 low), 91.00 (psychological level) and 90.85 (Feb 25 low).
Japan is getting ready for the BoJ Governor nominations that are taking place overnight tonight. "Kuroda was the superior candidate among the frequently cited names," comments Marc Chandler, BBH's Global Head of Currency Strategy. "He has the strongest international standing and while a critic of the BOJ, did not advocate, as far as we can tell, the purchase of foreign bonds or changing the BOJ's mandate. "