USD/JPY stays below intraday high of 105.07 to keep the sub-105.00 area. FOMC stayed ready for longer easy money policies while upwardly revisiting economic forecasts. Japan’s Yoshihide Suga official gains the PM’s throne, Abenomics may continue. BOJ may follow American counterpart to mildly revise the economic outlook while keeping monetary policy unchanged. USD/JPY bounces off the day’s low of 104.87 to 104.94 as traders in Tokyo arrive for Thursday’s work. In doing so, the yen major shrugs of the Fed-led gains while snapping the four-day losing streak. It should additionally be noted that the quote stays near the monthly bottom of 104.80, flashed Wednesday, ahead of the Bank of Japan’s (BOJ) monetary policy meeting, up for publishing around 03:00 AM GMT. Can BOJ try to please new PM? After the US Federal Reserve (Fed) slightly revised the economic forecasts and still conveyed their bearish bias, which strengthened the US dollar, the BOJ may follow the footsteps of Powell and Company to mark their intelligence in front of the new Prime Minister Suga. The Federal Open Market Committee (FOMC) respected their Average Inflation Targeting (AIT) while suggesting ultra-low interest rates for a bit longer period. Though, reluctance to act in the short-term gained the market’s attention to please the US dollar buyers. Following the Fed-led action, global markets witness dull trading amid hopes of receiving the coronavirus (COVID-19) vaccine soon and uncertainty over the US stimulus. Also challenging the trading sentiment could be US President Donald Trump’s dislike for the World Trade Organization’s (WTO) verdict to favor China. Against this backdrop, S&P 500 Futures drop 0.40% and the Nikkei 225 is also down, currently losing 0.62% to 23,320. Even if global markets fear short-term brake to the further easy money, as signaled by the US central bank, BOJ’s likely bearish bias can keep the equity traders happy. Looking at the USD/JPY, the pair may remain pressured as the latest recovery in Tokyo’s economics, coupled with Suga’s arrival as the PM, can favor the Japanese yen (JPY) despite the BOJ’s expected status-quo. Read: BOJ Preview: New Prime Minister, same old policy Other than the BOJ, monetary policy meeting by the BOE and second-tier data from the US, Europe and Switzerland can also offer a busy day ahead. Technical analysis While August month’s low of 105.10 offers immediate resistance to the pair, buyers are less likely to be convinced unless witnessing a daily close beyond the 50-day SMA level of 106.12. 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 USD/CHF Price Analysis: Well bid above 200-HMA despite overbought RSI FX Street 2 years USD/JPY stays below intraday high of 105.07 to keep the sub-105.00 area. FOMC stayed ready for longer easy money policies while upwardly revisiting economic forecasts. Japan’s Yoshihide Suga official gains the PM’s throne, Abenomics may continue. BOJ may follow American counterpart to mildly revise the economic outlook while keeping monetary policy unchanged. USD/JPY bounces off the day’s low of 104.87 to 104.94 as traders in Tokyo arrive for Thursday’s work. In doing so, the yen major shrugs of the Fed-led gains while snapping the four-day losing streak. It should additionally be noted that the quote stays near the monthly bottom of… 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.