USD/JPY approaches 105.00, Kuroda still on the wires

The Japanese currency is posting marginal losses vs. its American peer on Tuesday, with USD/JPY flirting with the 105.00 handle after Kuroda’s press conference.

USD/JPY attention to US data

The pair remained apathetic after the BoJ left its monetary stance unchanged at today’s meeting, while Kuroda’s press conference failed to ignite any lasting reaction among investors for the time being.

Governor H.Kuroda has once again reiterated the central bank’s readiness to adopt all necessary measures in order to clinch the inflation target as quickly as possible. Previously, Kuroda said the economy continues its march at a moderate pace, while he expects the CPI to hit the 2% goal around FY 2018.

Later in the session, US manufacturing PMI tracked by Markit and the always-relevant ISM Manufacturing will keep the attention on the buck, ahead of tomorrow’s FOMC meeting.

USD/JPY levels to consider

As of writing the pair is up 0.09% at 104.98 facing the immediate hurdle at 105.55 (high Oct.28) ahead of 106.78 (200-day sma) and finally 107.48 (high Jul.21). On the downside, a break below 104.11 (20-day sma) would open the door to 102.78 (low Oct.10) and then 102.59 (55-day sma).