BOJ Keeps Interest Rate -0.10%, USD/JPY Shows Plunge!

<p>&nbsp;Asian investors are today awaiting the results of the central bank of Japan's policy meeting in the Asian session for clues on further monetary policy.</p><p><br /></p><p>The Bank of Japan (BOJ) as expected kept interest rates unchanged at -0.10% and policy makers are seen not making any changes to existing policies.</p><p><br /></p><p>The central bank is seen to be continuing to monitor current economic developments in Japan and expressed readiness to extend policy easing if needed.</p><p><br /></p><p>The Yen reacted little after the meeting's outcome, seeing it weaken slightly against the US dollar before moving back flat.</p><p><br /></p><p>Observed on the chart of the currency pair USD/JPY, the price which was flat at the level of 148.100 then slightly jumped to the level of 148.500 before decreasing to around 147.900.</p><p><br /></p><p>A price movement that returns to the horizontal below the Moving Average 50 (MA50) barrier on the 1-hour time frame on the chart can give an early signal for a bearish price movement.</p><p><br /></p><p><br /></p><p>The MA50 barrier was tested on continued trading at the opening of the European session before prices posted a sharp dive towards the focus zone at 147.00.</p><p><br /></p><p>If the price breaks below that zone, the bearish movement will continue towards around 146.00.</p><p><br /></p><p>However, if the price manages to jump higher after this, the price increase is likely to surpass last week's high.</p><p><br /></p><p>Next, the target for a higher move is towards the 150.00 zone to record a recent 9-week high.</p>

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