{"id":96635,"date":"2016-10-11T07:31:22","date_gmt":"2016-10-11T11:31:22","guid":{"rendered":"http:\/\/countingpips.com\/?p=96635"},"modified":"2016-10-11T07:31:22","modified_gmt":"2016-10-11T11:31:22","slug":"usdjpy-us-dollar-japanese-yen-forex-technical-analysis-october-11-2016","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/usdjpy-us-dollar-japanese-yen-forex-technical-analysis-october-11-2016\/","title":{"rendered":"USDJPY: US Dollar Japanese Yen Forex Technical Analysis October 11, 2016"},"content":{"rendered":"
October 11, 2016<\/div>
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By IFCMarkets<\/a><\/p>\n

Bank of Japan ready to easy monetary policy again<\/strong><\/p>\n

Japanese yen continued falling on Monday. Thus, USDJPY<\/a> ia rising for 3rd straight week after Bank of Japan announced further possible monetary easing. Will such a trend persist?<\/p>\n

In the end of last week head of Bank of Japan Haruhiko Kuroda said the bank is ready to cut interest rates or increase volume of bond buying programme. The first option is more preferable. Current rate is -0.1%. Deflation of 0.5%year over year was recorded in August 2016 in Japan while the BoJ targets 2% inflation till March 2018 when the further tax year ends. Reaching the target may require additional monetary easing. The current volume of the programme is 80trn yen a year. The most significant economic data will come out in Japan on October 23 and 27 \u2013 trade balance and inflation for September. The next BoJ meeting will take place on November 1. This week the factory orders will come out on Wednesday and producer prices on Friday. Moreover, some other indicators are expected.<\/p>\n

\"usdjpy\"<\/p>\n

On the daily chart USDJPY: D1<\/b> has left the triangle to move upwards. Further growth is possible in case of more active measures of BoJ to ease monetary policy.<\/p>\n