Is the Japanese Yen on a loosing ground again? It’s time to look at EUR/JPY. Price is testing the previous high of Feb 07. The all time high was recorded in 1999 at a price of around 162, it is now in the 159 zone. MACD is suggesting an uptrend. Then if you look at USD/JPY, there seems to room for upside movement but is resisted by a previous support. I don't think the Bank of Japan will sit there and do nothing. Today, the Bank of Japan announced that they are adding two new members to their policy board as the terms of Fukuma and Haru expire. Not much is known about the new members, but traders should become familiar with the names Kamezaki and Nakamura, since their comments could not move markets. I will rely on Technical Analysis to tell me the story.
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