The Yen has been volatile for the second day in a row. Overview for 23.01.2018

23.01.2018

On Tuesday morning, the USD/JPY pair tried to start a new decline, but the BoJ’s decisions stopped “bears”.

The Japanese Yen has been trading quite actively for the second consecutive trading session, but it’s rather questionable whether it continues strengthening. The current quote for the USD/JPY pair is 110.95.

The first meeting the Bank of Japan in 2018 was over today. The results were pretty expected: the QE program volume didn’t change. The board voted for this 8 against 1. The key rate also remained unchanged at -0.1%.

In the comments that followed, the regulator noticed that the Japanese economy would grow faster than average and the major improvement was expected in 2018-2019.

The QE program is still 80 trillion Yen every year and is not expected to change in the nearest future. The same can be told about the inflation: the target of the BoJ is 2%.

In response to such neutrality, the Yen moved upwards during the Asian trading session, but later weakened due to the piece of news that the American government had resumed its activities.

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.