Is there much potential left for upside runs? According to Adam Button, editor at Forexlive, in the near term, after the BoJ announcement, "it leaves yen crosses without a catalyst to move higher", adding that "if I look at it from the perspective of a Japanese exporter, I would be rushing to hedge at these levels."
Technically, Adam thinks that "the 88.00/87.79 level will be critical." A break below, "and we could see a correction all the way to the 55-day moving average around 85.00" Adam notes.
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