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21 Apr 2016
USD/JPY awaits Central Bank week - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that USD/JPY traded in a tight 60 pips range, indifferent to market woes and ahead of economic policy meetings from both Central Banks next week.
Key Quotes:
"The US Federal Reserve will meet next Wednesday, and the BOJ on Thursday. And whilst the first is expected to offer a hawkish tone and anticipate an upcoming rate hike, the second is largely expected to extend easing measures, widening the imbalance between them and therefore implying a bullish rally, against the ongoing bearish trend."
"The pair flirted with the 110.00 figure at the beginning of the day, but as stocks turned lower in Europe and the US, chances of a breakout higher are now quite smaller. "
Key Quotes:
"The US Federal Reserve will meet next Wednesday, and the BOJ on Thursday. And whilst the first is expected to offer a hawkish tone and anticipate an upcoming rate hike, the second is largely expected to extend easing measures, widening the imbalance between them and therefore implying a bullish rally, against the ongoing bearish trend."
"The pair flirted with the 110.00 figure at the beginning of the day, but as stocks turned lower in Europe and the US, chances of a breakout higher are now quite smaller. "