The Bank of Japan (BoJ) is having a monetary policy meeting, and the result of it will be unveiled on Thursday at 03:00 GMT. Yoshihide Suga has been confirmed as Japan’s new Prime Minister by Parliament but the BoJ is expected to keep the same old policy though may review outlooks. USD/JPY bearish strength is likely to prevail after central banks’ announcements, FXStreet’s Chief Analyst Valeria Bednarik reports. More – Bank of Japan Preview: Six major banks expectations Key quotes “The BoJ is largely anticipated to maintain its current monetary policy, with the main rate at -0.10% and the focus on keeping the yield-curve under control. Policymakers may revise their economic outlooks, but even with an upgrade of growth and inflation figures, the event has little chances of having a significant impact in the JPY.” “Ahead of the BoJ, the US Federal Reserve will announce its monetary policy decision. The central bank has announced a new inflation policy framework, in which it targets average inflation over time. Pretty much that means that the US policymakers won’t rush into a rate hike anytime soon, even if inflation surges above 2%.” “The BoJ has little chances of having an impact on the JPY, but the same doesn’t go for the Fed. The US Central Bank will likely set the tone ahead of the Japanese one. A strong static support area comes around 104.70, with a break below it exposing 104.18, this year low.” “If somehow the market finds a reason to buy the dollar, the immediate resistance is 105.50 ahead of the 106.00 figure. Still, the USD/JPY pair would need to advance beyond 106.70 to change its current negative bias.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD slides to six-day lows near 1.1800 ahead of the FOMC FX Street 2 years The Bank of Japan (BoJ) is having a monetary policy meeting, and the result of it will be unveiled on Thursday at 03:00 GMT. Yoshihide Suga has been confirmed as Japan’s new Prime Minister by Parliament but the BoJ is expected to keep the same old policy though may review outlooks. USD/JPY bearish strength is likely to prevail after central banks’ announcements, FXStreet’s Chief Analyst Valeria Bednarik reports. More – Bank of Japan Preview: Six major banks expectations Key quotes “The BoJ is largely anticipated to maintain its current monetary policy, with the main rate at -0.10% and the focus… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.