The session on APAC markets brought an activation of market bulls on the USDJPY pair, who increased their bets on further weakness in the Japanese yen. Thus, the pair found itself in the zone of historical peaks, which capped gains on the instrument over the past 2 years.
The BOJ's Tamura commented today that the central bank is likely to maintain an accommodative monetary policy for the time being, which, combined with the broad-market strength of the dollar, weakened the USDJPY pair. In the last 15 minutes, however, the move was negated rather abruptly by reports that the BoJ, MoF, FSA are scheduled to meet to discuss the situation in international financial markets. What's more, the meeting itself will be followed by a conference call with Kandy, a key currency diplomat, which could theoretically indicate that the current scale of yen weakness is not desirable, opening the way for currency interventions to be made.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوال
Reaction to the meeting announcement. M5 interval. Source: xStation
USDJPY pair on the D1 interval and a test of historical peaks. Source: xStation
