Bank Of Japan’s Policy Rate Decision

Japan Policy Rate Decision

Japan will release interest rate decision due tomorrow during early Asian hours. Generally, Interest rate decision captures high market volatility but during this event Japanese yen tends to trade in rigid boundaries against major peers. Market has anticipates flat interest rate but possibilities are there to introduce new measures by BOJ to boost the economy. In addition, political uncertainties are also responsible to decide the future path of the Japanese yen.

Let’s see how JPY has reacted during the previous data release:

July 15

June 16

Note: BOJ interest rate decision data may create around 10 – 30 PIP movement only.

Technical View:

USD/JPY: The Japanese yen strengthens noticeably against U.S. dollar ahead of BOJ’s policy rate decision. The pair hits fresh 2 – month low at 104.85 mark. A sustained close above 105.40 will take the parity higher towards key resistance around 105.90, 106.22, 106.92, 107.48, 107.92, 108.22, 108.54, 109.20 and 109.72 mark respectively. On the other side, a consistent close below 105.40 will drag the parity down towards 104.72, 104.20, 103.50 and 102.98 marks respectively.

Take a look and do trade wisely!

Good luck

Tags
Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts

Categories

Offices

305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines

Mail us

Drop mail at:
support@tpglobalfx.com

Contact us

Call or Whatsapp
+1 7754366970

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc. This site is run and operated by - TP Global Services Limited registered by FSA, St. Vincent and the Grenadines with Number 25274 BC 2019. Registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

TP Global Services Limited is registered with NFA (National Futures Association) USA with Registration Number 0533098.

mappin at-sign phone close