all of economist, Investors & traders are awaiting Bank Of Japan Governor Mr. Haruhiko Kuroda’s monetary policy pronouncement tomorrow Friday 29-7-2016 which may be on of the high volatile day on Japanese Yen against most of counterparties .
the last announcement of Prime Minister Mr. Shinzo Abe that his fiscal stimulus package would exceed 28 trillion yen ($266 billion), exceeding many market estimates , The Finance Ministry also quashed a Wall Street Journal report it may sell 50-year government bonds which brought back speculations of more drop for Yen
such announcement placed Mr. Haruhiko Kuroda under heat for more act, which may deviate between more stimulus program and more Rate cut which may push Japanese Yen for more drop as policy makers aiming to spark Inflation.
Another angle of this situation is what happened yesterday from Fed reserve Bank where policy makers kept interest rate unchanged which placed more pressure over BOJ to act for more stimulus if he wont to see more drop over Japanese Yen.
Bloomberg Intelligence Economics expects the BOJ to increase the annual expansion in the monetary base to 90 trillion yen from 80 trillion yen and boost its ETF purchases to 4.3 trillion yen from 3.3 trillion yen. The BOJ is also likely to reduce the negative rate to -0.3% from -0.1%.
Such expectations if happened tomorrow this may lead for farther drop for Yen against most counterparties of currencies , while will expect farther advance for Nikkei 225
The technical analysis still the same as we advised since last friday to see click ( http://ramifx.com/?Lxq5bQ )