| Forex News Center | | | JPY News Archive |
JPY Daily News
Potential Intervention by the Bank of Japan?
The Japanese yen continues to strengthen. Persistent worries about strengthening versus the dollar, euro, and pound may bring about a round of intervention by the Bank of Japan (BOJ). Possible steps that would be considered by the BOJ would be purchases of government securities. Intervention could be likely, should the USD/JPY rate fall below the 85 level. A strong yen hurts Japan's export dependant economy by making exporters' goods more expensive and less competitive in the global marketplace.
Yesterday the USD/JPY traded relatively unchanged at 86.70.
The USD/JPY has been trending lower for the past 3-months but is showing some technical signs for a short term reversal. Friday's trading ended with a spinning top candlestick pattern and a bullish cross is forming on the daily chart's slow stochastic oscillator. Traders may want to cover any short positions they may have as a pullback may occur to the next resistance level at 88.
Add events to google calendar
Mark all
Unmark all
Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 07/20 | ||||||||
| 00:50 | JPY |  Monetary Policy Meeting | * | * | * |  | ||
