FxWirePro: Yen gains against major peers after BOJ Iwata’s comments
Thursday, August 4, 2016 2:50 AM UTC
- USD/JPY is currently trading around 101.05 marks.
- It made intraday high at 101.36 and low at 100.86 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 101.56 levels.
- A daily close above 101.56 will take the parity higher towards key resistances around 102.68, 103.39, 105.50, 106.12, 106.72, 107.49, 107.90 and 109.13 levels respectively.
- On the other side, a sustained break below 100.67 will drag the parity down towards key supports at 99.99, 99.27 and 98.78 levels respectively.
- BOJ deputy Gov Iwata: BOJ decided to strengthen its monetary easing to prevent risks posed by overseas economies from hurting sentiment.
- BOJ deputy Gov Iwata: Expect Japan economy to remain on gradual recovery path.
- BOJ deputy Gov Iwata: Expect Govt stimulus spending to contribute a lot to growth this and next fiscal year.
- BOJ deputy Gov Iwata: Yen gains, lack of improvement in inflation expectations behind slowdown in prices.
- BOJ deputy Gov Iwata: Prepared to ease policy without hesitation if needed to meet 2 pct price target.