OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY: a must look technical picture before BoJ - UOB

FXStreet (Guatemala) - Analysts at UOB Bank offer the key technical levels ahead of the BoJ where economists are on the fence as to whether they will wait to act at the end of the month or today.

See here for the BoJ preview.

Key Quotes:

"Still neutral but key levels are further apart. [no change in view, see update from yesterday below] While USD broke below the strong 119.00 support last Friday (low of 118.65/70), the rapid reversal coupled with the strong daily close suggests that USD is not ready to move lower in a sustained manner.

In other words, we continue to hold a neutral view but the key levels are further apart now between 118.65 and 121.30. On a shorter-term note, 120.70 is already a strong resistance."

See here for the BoJ preview.

BoJ to wait until end of October - RBS

Brian Daingerfield, FX Trading Strategist at RBS explained and noted that the Bank of Japan holds its early-October monetary policy meeting today, and we expect the BoJ to leave its policy stance unchanged.
Read more Previous

BOJ preview: Easing expectations up, odds for shocker today limited - Nomura

While expectations for near-term BOJ easing have increased, according to a Bloomberg survey, the Central Bank is not expected to ease further today, notes Nomura.
Read more Next
Start livechat