5 Sep 2013
USD/JPY prints doji pattern...stalls around 99.70 zone
FXstreet.com (Chicago) - USD/JPY remained unchanged on BoJ’s decision to maintain interest rates at 0.1%. The announcement of a 60-70 annual increase in monetary base came with no surprises.
BoJ maintains interest rates
The highlights of Japan’s monetary base decision brought no surprises with statements indicating the economy has known a “moderate” recovery and interest rates matching 0.1% expectations and past results. The long-term goal remains hitting the 2% inflation target in the medium and long-term goal.
USD/JPY Technical Levels
Trading at 99.70, the pair remains slightly bullish on one-hour timeframe analysis according to the FXstreet.com trend index and navigates between supports at 99.21 (September 2nd lows), 98.72 (August 25th highs) ahead of 98.36 (August 13th highs) and resistances at 100 (August 2nd highs), 100.44 (July 24th highs) followed by 100.88 (July 18th highs). A doji pattern indicates even pressure from bulls and bears and a pair stalling post BoJ data.
BoJ maintains interest rates
The highlights of Japan’s monetary base decision brought no surprises with statements indicating the economy has known a “moderate” recovery and interest rates matching 0.1% expectations and past results. The long-term goal remains hitting the 2% inflation target in the medium and long-term goal.
USD/JPY Technical Levels
Trading at 99.70, the pair remains slightly bullish on one-hour timeframe analysis according to the FXstreet.com trend index and navigates between supports at 99.21 (September 2nd lows), 98.72 (August 25th highs) ahead of 98.36 (August 13th highs) and resistances at 100 (August 2nd highs), 100.44 (July 24th highs) followed by 100.88 (July 18th highs). A doji pattern indicates even pressure from bulls and bears and a pair stalling post BoJ data.