BoJ out of contingency programs - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY pair attempted once again to rally beyond the 118.00 figure, but the advance was contained by selling interest around 118.60, with the pair aiming to close the day pretty much unchanged from its opening.

Key Quotes:

"The Japanese yen shed some ground at the beginning of the day, as BOJ's Kuroda did the rounds, once again warning about sudden directional moves in the currency. But the decline was short lived, as investors recall that the Central Bank has no contingency program for whatever the UK referendum may bring.

Technically, the 1 hour chart shows that the price is well-limited within the 100 SMA, the immediate support at 117.70 and the 200 SMA capping the upside around the mentioned daily high.

In the 4 hours chart, the technical indicators remain directionless within bearish territory, whilst the 100 SMA has continued declining far above the current level, and now around 120.00."