Forex: USD/JPY eyes 90.00 after news on BoJ easing

FXstreet.com (Barcelona) - The Japanese yen is accelerating its depreciation on Thursday, hitting fresh lows against the buck in the vicinity of 90.00 - levels last seen in June 2010 - after news agency Thomson-Reuters has informed that the BoJ would announce an open-ended programme of asset purchases until the inflation figures reach 2.0%. The central bank would also be considering lowering its floor of short-term interest rate in levels close to zero or sub-zero.

The cross is now advancing 1.49% at 89.71 with the next resistance at 89.98 (high Jun.24 2010) followed by 90.59 (high Jun.23 2010) and then 91.00 (psychological level).
On the downside, a breach of 88.91 (MA100h) would intensify losses towards 88.14 (low Jan.17) and then 88.00 (psychological level).

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