According to the result of the latest meeting conducted by the Bank of Japan, the Japanese regulator decided to leave the asset purchase program unchanged. The decision was made as the result of voting - 8 votes against 1.
In particular, the central bank is still going to continue expanding the money supply by 80 000 billion JPY or $600 billion a year. At the same time, the bank made minor changes to margin requirement. The latest survey conducted by Bloomberg shows that the interviewed experts do not expect any changes up until October 31st. That’s the time when the Bank of Japan gets updates on Japan’s economic growth and inflation prospects.
FOREX
In the meantime, the Japanese Yen is still going flat around 120,21 against the U.S. Dollar within the scope of the 116,13 - 121,70 price range, Masterforex-V Academy reports.
On breaking below the local low at 118,67 will give way to further lows, which corresponds to a stronger Japanese Yen. If that’s the case, the price is probably going to test 118.29/07, 117.69/47, 117.09. Meanwhile, if the price goes the opposite direction, it is likely to test such levels of resistance as 120.54 + 120.93/98, 121.70/74.
