On Tuesday morning, the USD/JPY pair is attempting to move away from local maximums after the decisions of the Bank of Japan.
The Japanese yen is trying to move away from the lows of recent weeks after the March meeting of the Bank of Japan. The regulator decided to keep the key monetary policy unchanged. The money supply will grow by 80 trillion yen annually, the solution agreed by eight votes "for" and one "against". The inflation target remains the same - 2%, but is delayed for a longer term.
According to the comments from the BoJ, the Japanese economy will recover at a moderate pace. Inflation, which is the main CPI, will remain in the range of 0-0.5%. The main consumer price inflation will tend to zero.
In fact, the Bank of Japan did not say anything new. Inflation rates that have previously very much interested economists and investors have now been put on the backburner.
The Japanese yen last week declined steadily in tandem with the US dollar, but is now trying to win back some positions. For the USD/JPY pair the target range for the movement remains the 120.85-122.02 corridor - a maximum of 10 March.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
On Tuesday morning, the USD/JPY pair is attempting to move away from local maximums after the decisions of the Bank of Japan.
The Japanese yen is trying to move away from the lows of recent weeks after the March meeting of the Bank of Japan. The regulator decided to keep the key monetary policy unchanged. The money supply will grow by 80 trillion yen annually, the solution agreed by eight votes "for" and one "against". The inflation target remains the same - 2%, but is delayed for a longer term.
According to the comments from the BoJ, the Japanese economy will recover at a moderate pace. Inflation, which is the main CPI, will remain in the range of 0-0.5%. The main consumer price inflation will tend to zero.
In fact, the Bank of Japan did not say anything new. Inflation rates that have previously very much interested economists and investors have now been put on the backburner.
The Japanese yen last week declined steadily in tandem with the US dollar, but is now trying to win back some positions. For the USD/JPY pair the target range for the movement remains the 120.85-122.02 corridor - a maximum of 10 March.
RoboForex Analytical Department
The Japanese yen is trying to move away from the lows of recent weeks after the March meeting of the Bank of Japan. The regulator decided to keep the key monetary policy unchanged. The money supply will grow by 80 trillion yen annually, the solution agreed by eight votes "for" and one "against". The inflation target remains the same - 2%, but is delayed for a longer term.
According to the comments from the BoJ, the Japanese economy will recover at a moderate pace. Inflation, which is the main CPI, will remain in the range of 0-0.5%. The main consumer price inflation will tend to zero.
In fact, the Bank of Japan did not say anything new. Inflation rates that have previously very much interested economists and investors have now been put on the backburner.
The Japanese yen last week declined steadily in tandem with the US dollar, but is now trying to win back some positions. For the USD/JPY pair the target range for the movement remains the 120.85-122.02 corridor - a maximum of 10 March.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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