Friday, April 22, 2016

Forex - USD/JPY rallies over 1% on BoJ stimulus reports

Greenback rises sharply vs. yen with all eyes on BoJGreenback rises sharply vs. yen with all eyes on BoJ - The U.S. dollar rallied over 1% to three-week highs against the yen on Friday, as reports of possibly extended stimulus measures by the Bank of Japan sent the local currency broadly lower.

hit 111.41 during U.S. morning trade, the pair's highest since April 4; the pair subsequently consolidated at 111.31, up 1.69%.

The pair was likely to find support at 109.27, the session low and resistance at 111.80, the high of April 4.

The yen came under broad selling pressure after Bloomberg that the Bank of Japan was considering helping banks by applying negative rates to its lending program for financial institutions.

B on Wednesday that the bank is prepared to ease monetary policy further in order to reach its inflation target.

The central bank's next policy statement is scheduled on April 28.

Separately, market sentiment remained supported as continued to climb on Friday and were hovering close to the previous session's five-month highs.

The yen was also sharply lower against the euro, with rallying 1.29% to 125.14, the highest since April 7.

In the euro zone, research group Markit reported earlier that its , which measures the combined output of both the manufacturing and service sectors slipped from 53.1 in March to 53.0 in April, below forecasts for 53.2.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source → Forex - USD/JPY rallies over 1% on BoJ stimulus reports

Forex - USD/JPY rallies over 1% on BoJ stimulus reports Rating: 4.5 Posted by: Unknown


Post a Comment

Blog Archive