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Message: [QUOTE="Zerologic, post: 240797, member: 126754"] [ATTACH type="full"]31218[/ATTACH] Ahead of Japan Monetary Policy Meeting Minutes Japanese Yen limits strengthening Yesterday the USDJPY pair drew a bullish candle with a long body small shadow on the top of the candle. Price formed a high of 155,976, a low of 154,434, closing at 155,492. The Japanese Yen strengthened and brought the USDJPY pair down to a low of 153,713 on previous days. The Japanese yen weakened due to concerns that Trump's tariff policy had benefited the US dollar. Trump said he would soon impose tariffs on pharmaceutical, computer chip and metal manufacturers in the near future. This policy has revived fears of a trade war that could affect global growth. Trump's tariff policy is also seen to spur inflationary pressures in the US and trigger US Treasury yields and help the US dollar recover from its lowest level in more than a month. Trump previously ordered his administration to impose emergency tariffs of 25% on Colombian imports, although the tariffs were postponed after Colombia agreed to accept all illegal migrants returned from the US without restrictions. The dollar index (DXY) is now 107.9195 after tumbling to a low of 106.969. The dollar index is used to measure the strengthening of the US dollar against six major currencies and this can provide an idea of the USD's position in the financial market. Today we are waiting for the Japanese economic schedule in the Monetary Policy Meeting Minutes. However, rumors circulating seem to suggest that the different policy expectations of the BoJ and the Fed could limit JPY losses and limit USD. The BOJ will continue to raise policy rates and adjust the level of monetary accommodation if the outlook presented at its January meeting materializes. On the other hand, the Fed is expected to leave interest rates unchanged at the FOMC meeting tomorrow. [/QUOTE]

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