30 Apr 2015
BoJ to talk down the Yen - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the Bank of Japan will have its monthly economic policy meeting later on.
Key Quotes:
"There are some expectations over the announcement of fresh stimulus, as the economy is still far from achieving BOJ's targets."
"Anyway, chances are limited, although the Central Bank will probably try to down-talk the yen. From a technical point of view, the 1 hour chart shows that the price stands below a bearish 100 SMA, whilst the technical indicators aim higher above their mid-lines."
"In the 4 hours chart however, indicators remain below their mid-lines whilst the moving averages are gaining bearish slopes well above the current level, all of which should keep the upside limited during the upcoming hours."
Key Quotes:
"There are some expectations over the announcement of fresh stimulus, as the economy is still far from achieving BOJ's targets."
"Anyway, chances are limited, although the Central Bank will probably try to down-talk the yen. From a technical point of view, the 1 hour chart shows that the price stands below a bearish 100 SMA, whilst the technical indicators aim higher above their mid-lines."
"In the 4 hours chart however, indicators remain below their mid-lines whilst the moving averages are gaining bearish slopes well above the current level, all of which should keep the upside limited during the upcoming hours."