Forex: USD/JPY retreats after Kuroda's comments

FXstreet.com (Córdoba) - The USD/JPY retraced its intraday gains and briefly dipped below 99.00 after BoJ's Kuroda said the bank has done enough for the moment, signaling a pause after strong easing moves. Kuroda also said that monetary policy won't be dictated by the currency neither it is aimed at affecting yen rate.

USD/JPY dropped over 60 pips in a matter of minutes, falling from the 99.60 zone to a low of 98.94 on the comments. The pair is currently trading around 99.20, still up 0.2% on the day.

Next support for USD/JPY could be found around 98.90 and 98.20. Resistances are seen at 99.65 and 100.00.