The Bank of Japan left its policy unchanged in a meeting that was attended by special guests but yielded nothing. They did talk about acting in the future, but this was far from enough to weaken the yen, especially as they removed the language about further cutting rates into negative territory. USD/JPY rattled and flirted with the 114 level but eventually slides to the lows of 113.22 and remains on lower ground. The BOJ left the 80 trillion yen monetary base and 0.1% negative interest rate. They will closely monitor the impact of negative rates and the only meaningful announcement is the exemption of Money Reserve Funds (MRFs) from the negative rates. All in all, no new negative rates now, no new forward guidance about negative rates and an exemption of negative rates for some. They do see the economic recovery as continuing, but quite moderately. They do cite uncertainty in emerging markets and the impact of the Fed policy as risks and do watch out for volatility. The Bank of Japan may have learned from the European Central Bank: taking its time with action and also downplaying expectations. They announced they are examining the impact of negative rates. Analysts say that the BOJ, like the ECB, fears it is reaching the limit of monetary policy and that it is working carefully. Perhaps further fiscal stimulus will be introduced. Elections for the upper house in the Japanese parliament are due later this year. Perhaps this will inspire the government to announce some stimulus instead of the central bank. In any case, it seems the BOJ is not too keen about negative rates. Here is how it looks on the chart. Further support awaits at 112.20, followed by the double bottom of 111. Resistance is at 114.55 and 116. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next AUDUSD: Weakens, Sees Corrective Pullback Risk FX Tech Strategy 7 years The Bank of Japan left its policy unchanged in a meeting that was attended by special guests but yielded nothing. They did talk about acting in the future, but this was far from enough to weaken the yen, especially as they removed the language about further cutting rates into negative territory. USD/JPY rattled and flirted with the 114 level but eventually slides to the lows of 113.22 and remains on lower ground. The BOJ left the 80 trillion yen monetary base and 0.1% negative interest rate. They will closely monitor the impact of negative rates and the only meaningful announcement… 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.