Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

The BOJ Kept Its Monetary Policy Intact

Published 12/19/2014, 02:00 AM
Updated 03/09/2019, 08:30 AM

USD/JPY

For the 24 hours to 23:00 GMT, the USD traded a tad higher against the JPY and closed at 118.94.

In the Asian session, at GMT0400, the pair is trading at 119.32, with the USD trading 0.32% higher from yesterday’s close.

Earlier today, the BoJ kept its key interest rates unchanged at 0.1% and mentioned in its monetary policy statement that the central bank would continue to boost the nation’s monetary base at an annual pace of ¥80 trillion. Meanwhile, the BoJ expressed optimism over the Japanese economy as according to the central bank there was no immediate requirement of stimulus and further indicated that the nation was slowly recovering from the deteriorating effects of April sales-tax hike.

Data just released indicated that Japan’s final leading economic index advanced to a level of 104.5 in October, from previous month’s reading of 104.0 in the previous month. Meanwhile, the nation’s coincident index dropped to 109.9 in October, following a reading of 110.2 recorded in September.

The pair is expected to find support at 118.59, and a fall through could take it to the next support level of 117.86. The pair is expected to find its first resistance at 119.71, and a rise through could take it to the next resistance level of 120.11.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.