FX.co ★ Kuroda supported the yen

USD / JPY

The Japanese yen remained under the technical level of 107.00 for the fourth day in anticipation of impulse from the stock markets. Yesterday, the American S & P500 lost 0.6%. Today, the Japanese Nikkei225 is down to 0.2%. Also, macroeconomic data did not bring optimism to investors. The volume of basic domestic new orders for engineering products in Japan increased by 2.1% in February against the forecast of -2.6%, versus the previous positive growth of 8.2%, but the volume of bank lending in March from 2.1% YoY to 2.0 % YoY and the producer price index for the same month fell from 2.6% YoY to 2.1% YoY.

This morning, the Head of the Bank of Japan Haruhiko Kuroda spoke at the quarterly meeting of managers of the Central Bank's branches and mentioned that the regulator will continue to actively purchase bonds until inflation has stably exceeded 2%.

We are expecting the Japanese yen at 108.00.

* The presented market analysis is informative and does not constitute a guide to the transaction.