21 Jan 2015
USD/JPY flat awaiting BoJ statement
FXStreet (Guatemala) - USD/JPY is currently at 118.65 with a high of 118.87 and a low of 118.61 and flat on the day.
USD/JPY has capped out at the 118.80 resistance having staged a prominent rally this week from the bearish opening gap to 117.00. Meanwhile, for the Tokyo open, the pair is flat while markets await the BoJ statement today.
The BoJ are widely expected to leave rates on hold but markets will be listening out for the accompanying language and outlook from the Central Bank, taking into account the recent strength of the currency and the oil price in respect of deflationary pressures. Technically, analysts at Swissquote explained that the USD/JPY may rebound for fresh bull trend, although a step below 115.50/57 should trigger further slide to 112.45/113.50 area.
USD/JPY has capped out at the 118.80 resistance having staged a prominent rally this week from the bearish opening gap to 117.00. Meanwhile, for the Tokyo open, the pair is flat while markets await the BoJ statement today.
The BoJ are widely expected to leave rates on hold but markets will be listening out for the accompanying language and outlook from the Central Bank, taking into account the recent strength of the currency and the oil price in respect of deflationary pressures. Technically, analysts at Swissquote explained that the USD/JPY may rebound for fresh bull trend, although a step below 115.50/57 should trigger further slide to 112.45/113.50 area.