Rumors that the Bank of Japan will increase its QE program caused pressure again on the yen, driving the currency back to the same trend which pushed the currency to its two-and-a-half year low. Investors believe that pressure will carry its legacy until the judgment day in January 21-22 policy meeting where people familiar with the matter said BOJ will adopt a 2% inflation target and there is possibility the monetary policy will further relaxed by $1.2 trillion dollar through assets buying and lending program Reuter reported. If the rumors do come true, then Japan's economy will further grow in 2013 and yen will become more weaker against dollar and all thanks goes to its Prime Minister Shinzo Abe who is dedicated to fiscal spending and lose monetary policy.
Technical Analysis
Comments: The declining trend is no longer in play on the 30-minute time frame which means the upside will prevail. RSI has shown little sign of deflection which can be taken as caution
Key levels
88.85
88.5
88.35
88.121 last
87.55
87.15
86.8
DISCLOSURE AND DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Reader.
By Naeem Aslam
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USD/JPY: BOJ Inflation Goal Putting Pressure On JPY
Published 01/10/2013, 04:27 AM
Updated 02/02/2022, 05:40 AM
USD/JPY: BOJ Inflation Goal Putting Pressure On JPY
Fundamental Analysis
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