the stop occurred at a strong support level:
1.psychological level 110.00
2.test of the line of control of the upward movement
3. retest of local highs of the previous trading session.
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🔹As expected, the Japanese Central Bank kept its monetary policy principles unchanged, including a -0.1% target for short-term interest rates and a pledge to maintain long-term rates at around 0%.
🔹The regulator also extended the September deadline for its emergency pandemic program by six months.
The Bank of Japan increased purchases of commercial paper and corporate bonds last year and launched a lending program aimed at channeling money to low-income smaller firms to cushion the blow from the pandemic.
🔹 #USDJPY dropped to the psychological level (110.00) and stopped at the newly formed support.