FxWirePro: USD/JPY jumps above 104.00 mark after BOJ’s meeting minutes
USD/JPY is currently trading around 104.02 marks. It made intraday high at 104.47 and low at 103.75 levels. Intraday bias remains bullish till the time pair holds key support at 102.55 levels. A daily close above 104.16 …
It made intraday high at 104.47 and low at 103.75 levels.
Intraday bias remains bullish till the time pair holds key support at 102.55 levels.
A daily close above 104.16 will take the parity higher towards key resistances around 104.99, 105.50, 106.12, 106.72, 107.49, 107.90 and 109.13 levels respectively.
On the other side, a sustained break below 103.75 will drag the parity down towards key supports around 102.67, 101.56, 100.30, 99.27 and 98.78 levels respectively.
BOJ September meeting minutes: Some members said firms' cautious price-setting behaviour might continue for longer than expected.
BOJ minutes: Many members shared the view that QQE had lowered real interest rates by raising inflation expectations and pushing down nominal interest rates.
BOJ minutes: One member said it was necessary to implement monetary policy that would raise inflation expectations.
BOJ minutes: One member said change in the yield curve after adoption of negative rates had been largely induced by temporary, somewhat speculative moves.
BOJ minutes: One member noted that achieving both an interest rate target and a quantitative target in the implementation of monetary policy was difficult.
Japan September overtime pay increases to -1.3 % vs previous -1.9 %.
In addition, Japan’s Average Cash Earnings rose to a seasonally adjusted 0.2%, from 0.0% in the preceding quarter whose figure was revised up from -0.1%.
