We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 1.67% Wall Street: 0.90% Germany 30: 0.89% US 500: 0.65% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/5LHY5FmIF9
  • Missed today's #AUDUSD weekly outlook webinar? See the recording here - https://t.co/I6VTWPtUwc
  • Canadian Dollar Forecast: USD/CAD Price- Ready to Edge Lower? More details in the link: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/05/26/Canadian-Dollar-Forecast-USDCAD-Price-Ready-to-Edge-Lower-MK.html?CHID=9&QPID=917714 https://t.co/eTYFyolGbV
  • Vaccine hopes, a Franco-German recovery package proposal, and a Fed that is committed to provide further liquidity has taken some of the shine off the safe-haven US Dollar.Get your market update from @JMcQueenFX here:https://t.co/GeN07sifc0 https://t.co/r8RTJC8bBG
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/3XSyQQShxq
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/rpZihwpSS1
  • Gold Prices Echo US Dollar Drop as Market Mood Improves - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/05/26/Gold-Prices-Echo-US-Dollar-Drop-as-Market-Mood-Improves.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #gold #xauusd #CrudeOil #OOTT
  • EU ready to drop maximalist approach to fisheries negotiations with the UK in the next round of Brexit talks (June 1st-5th), according to sources
  • USDMXN leaning on 50% Fib retracement - lower highs and lower lows still dominant. #usdmxn #mexicanpeso @DailyFXTeam https://t.co/GzYTHx7trp
  • $AUDUSD: empuje alcista en medio de dos fuerzas oponentes #aud #usd #trading https://t.co/jsKHvIOLK7
Yen Finds Strength on Unchanged BoJ Policy

Yen Finds Strength on Unchanged BoJ Policy

2013-04-26 05:35:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: BoJ repeats pledge to double its monetary base within two years -> Policy is unchanged, interest rate goes unmentioned -> Yen rises against the US Dollar

The Bank of Japan maintained a pledge to double its monetary base within 2-years, as was first announced following the previous central bank meeting at the beginning of the month. The BoJ further reiterated it will increase the monetary base by 60-70 trillion Yen a year.

The BoJ did not comment on the interest rate, which was left at 0.1% at the meeting at the beginning of April. The previous announcement to double monetary base followed Kuroda’s first meeting as the BoJ Governor, and the announcement showed the central banker’s commitment to PM Abe’s promise to reach 2% inflation within two years. Today’s announcement was unanimously agreed upon.

The Yen rose following the BoJ’s announcement, possibly due to disappointment for those who expected the BoJ to further increase monetary stimulus in today’s meeting. The previous announcement to double the monetary base surpassed market expectations and sent USD/JPY 700 points higher and just a few points short of the key 100.00 figure. The pair may continue to see resistance at 100.00, and support could come in at 98.25, by the 23.6% retracement of the rally following the April 4th decision.

(How does a Currency War affect your FX trading? Take our free course to find out!)

USDJPY 4-Hour: April 26, 2013

Yen_Finds_Stregnth_on_Unchanged_BoJ_Policy__body_usdjpy.png, Yen Finds Strength on Unchanged BoJ Policy

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.