The dollar yen in the forex trading on Tuesday rose, reaching a 10-day high. Currency Japan retreated after the announcement of the results of the meeting of the Bank of Japan. Japanese regulator has left its monetary policy unchanged. And it confirmed the goal of targeting long-term bond yield at 0%. The reason for the depreciation of the yen in the last two weeks were speculation about a possible increase in the target rate of return on government bonds and reduce the volume of the quantitative easing program. Since expectations are not met and the regulator announced its intention to continue to conduct a large-scale program of quantitative easing, the yen came under pressure.
Technical forecast pair USD / JPY, the price went to the resistance level at around 112.00 in the case of consolidation of buyers above, the pair will continue to rise to the level of 113.20. If USD / JPY quotes sellers return below 111.45, it is possible depreciation in the region 110.8.
Analyst and forex forecast pair USD / JPY Weltrade