USD/JPY lined up for BoJ

By FXstreet.com | June 12, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 101.73, up 0.03% on the day, having posted a daily high at 101.78 and low at 101.66.

USD/JPY is lined up for the BoJ tonight who will conclude its Monetary Policy Meeting. Strategists at TD Securities explained that this should be a relatively staid affair. “The markets are not expecting anything substantial to come out of this meeting, as the BoJ is seen holding its overall monetary policy stance unchanged well into the second half of the year”. They noted that Governor Kuroda's press conference could provide some color regarding the BoJ's latest thinking; “We would be particularly interested in any comments regarding the highly anticipated reforms currently under consideration by Abe's administration and the Diet, some of which will have material implications for the future of monetary policy in Japan.

USD/JPY Levels

With spot trading at 101.73, we can see next resistance ahead at 101.78 (Daily High), 101.82 (Daily Classic S1), 101.86 (Hourly 20 EMA), 101.88 (Weekly Classic S1) and 102.07 (Weekly Low). Support below can be found at 101.70 (Daily Open), 101.66 (Daily Low), 101.61 (Yesterday's Low), 101.56 (Daily Classic S2) and 101.55 (Daily 200 SMA).

comments powered by Disqus
Related Forex Analysis
  1. Markets Brace for More Volatility on ECB TLTRO, Scotland Referendum
    Forex News

    Markets Brace for More Volatility on ECB TLTRO, Scotland Referendum

  2. USD/JPY unstoppable; 109.00 within reach
    Forex News

    USD/JPY unstoppable; 109.00 within reach

  3. British Pound: Scottish Vote is Close and FX Traders are Nervous
    Forex News

    British Pound: Scottish Vote is Close and FX Traders are Nervous

  4. EUR/USD on mend, but sky is still clouded
    Forex News

    EUR/USD on mend, but sky is still clouded

  5. Asia Recap: Focus shifted to Scottish vote
    Forex News

    Asia Recap: Focus shifted to Scottish vote

Trading Center