Technical analysis and trading recommendations - https://fxpcm.com/fx/usd-jpy-bank-japan-policy-remains-same-15032016
The Bank of Japan kept the policy of increasing the monetary base by 80 trillion yen in the year and left the deposit rate unchanged at -0.1%.
At a subsequent press conference, the head of the Bank Haruhiko Kuroda said the bank is not going to abandon the policy of negative interest rates, and inflation reached 2% in the first half of 2017.
We need some time to assess the effect of the introduction of negative interest rates.
As noted in the bank, the Japanese economy continues to recover at a moderate pace, and reiterated that the bank will take additional measures if necessary.
Following the publication of the Bank of Japan's decision pair USD / JPY has declined and the Japanese index Nikkei Stock Average dropped on the basis of trading in Asia at 0.7%.
Demand for the yen, which is considered a safe haven, rose also due to sales of export earnings by Japanese exporters.
Investors' attention is switched to 2-day Fed meeting. And tomorrow at 18:00 (GMT) will be published on the Fed's decision on interest rates. Then at 18:30 at the subsequent press conference, Fed chief Janet Yellen will give comments on the monetary policy of the central bank's outlook. From the tone of the statements of the US dollar and the dynamics of the global financial markets in the short term will depend.
Before tomorrow's Fed decision pair USD / JPY, will likely remain under pressure near the levels of 113.00, 112.40.