USD/JPY jumps above mid-113.00s, 7-day tops in post-BOJ action

   •  BoJ maintains status-quo, shows readiness to ease further if needed.
   •  Sliding US bond yields/subdued USD demand fails to stall the up-move.
   •  Final US GDP revision eyed for fresh impetus in a rather quiet trading session.

After an initial dip to 113.20 level, the USD/JPY pair turned higher for the third consecutive session and surged back above mid-113.00s in the last minute.

The pair initially showed a very limited reaction after the Bank of Japan (BOJ) kept interest rates steady and also maintained its yield target for 10-year Japanese government bonds around zero percent, as was widely expected.

The pair, however, attracted some fresh buying interest after the BOJ Governor Haruhiko Kuroda, in the post-meeting press conference, showed readiness to consider additional easing measures to maintain inflation momentum towards 2% target.

Meanwhile, traders largely negated some positive comments, with Kuroda saying that monetary policy has helped improve Japan's economy and the government could possibly declare an end to deflation. 

Even retracing US Treasury bond yields, amid reviving safe-haven demand, and subdued US Dollar price action also did little to stall the pair's upward trajectory back to pre-FOMC hurdle near the 113.60 region.

Later during the NA session, the final US GDP growth figures for the third quarter, along with the Philly Fed Manufacturing Index and initial jobless claims would now be looked upon for some fresh impetus. 

Technical levels to watch

Immediate resistance is now pegged near 113.75 level, above which the pair seems more likely to surpass the 114.00 handle and aim towards testing its next major hurdle near the 114.40 region.

On the flip side, 113.20 level, closely followed by the 113.00 handle, now seems to protect the immediate downside, which if broken could drag the pair back towards 112.40-35 support zone.