{"id":79461,"date":"2015-10-12T07:25:12","date_gmt":"2015-10-12T11:25:12","guid":{"rendered":"http:\/\/countingpips.com\/?p=79461"},"modified":"2015-10-12T09:53:30","modified_gmt":"2015-10-12T13:53:30","slug":"yen-remains-range-bound-following-kuroda-qqe-statement","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/10\/yen-remains-range-bound-following-kuroda-qqe-statement\/","title":{"rendered":"Yen Remains Range Bound Following Kuroda QQE Statement"},"content":{"rendered":"<div id=\"inves-3827846641\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 12, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The USD\/JPY\u2019s six-week run flip-flop around 120.00 is persisting, flipping back above 120.0 after flopping last Thursday to a low at 119.62. Both currencies, meanwhile, have declined versus commodity and varies emerging nation currencies amid a coursing risk-on sentiment in global markets. The view is that key central banks, the BoJ included, will keep the monetary stimulus spigots fully open. However, BoJ chief Kuroda ruled out both a further expansion in QQE and the option for negative interest rates. He was speaking from the sidelines of an IMF meeting in Peru.<\/p>\n<p>Kuroda said that \u201cI don\u2019t think it\u2019s necessary.\u201d He reasoned that the current plan, which entails asset purchases of Y80 trillion per year, \u201chas been working\u201d with the economy \u201crecovering\u201d and that \u201cunderlying inflation dynamics are strengthening.\u201d He added that \u201cunless oil prices further decline, the negative impact coming from lower oil prices will dissipate \u00a0and then one percent inflation is quite likely to come\u201d This combined with \u201cquite tight labor market conditions\u201d saw Kuroda arguing that \u201cI think we can approach the two percent inflation target.\u201d The range bound trade has put resistance on the currency pair at 121.25, and support near 118.50.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/10\/jpy-101215.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9406\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/10\/jpy-101215-300x192.jpg\" alt=\"jpy-101215\" width=\"300\" height=\"192\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The USD\/JPY\u2019s six-week run flip-flop around 120.00 is persisting, flipping back above 120.0 after flopping last Thursday to a low at 119.62. Both currencies, meanwhile, have declined versus commodity and varies emerging nation currencies amid a coursing risk-on sentiment in global markets. The view is that key central banks, the BoJ included, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-79461","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/79461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=79461"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/79461\/revisions"}],"predecessor-version":[{"id":79467,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/79461\/revisions\/79467"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=79461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=79461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=79461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}