{"id":75986,"date":"2024-01-22T10:07:32","date_gmt":"2024-01-22T08:07:32","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=75986"},"modified":"2025-12-09T15:35:26","modified_gmt":"2025-12-09T13:35:26","slug":"bojs-interest-rate-decision-ahead-2","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/en\/bojs-interest-rate-decision-ahead-2\/","title":{"rendered":"BoJ\u2019s interest rate decision ahead"},"content":{"rendered":"\n<p>The slowdown of Japan\u2019s CPI rates tends to justify BoJ\u2019s hesitancy to normalize its ultra-loose monetary policy settings, currently in place. Hence, we highlight the release of BoJ\u2019s interest rate decision due out during tomorrow\u2019s Asian session. The bank is widely expected to remain on hold at -0.10% and currently JPY OIS implies a probability of 92.6% for such a scenario to materialize. We tend to expect the bank to maintain its dovish tone given the slowdown of the CPI rates which in turn may weaken JPY further. To expect a tweak in the bank\u2019s dovish tone, we would require a relative stabilization of the CPI rates in order to show that it is sustainable, something that does not seem to be the case, at least not yet. On the other hand, the market expects the bank to deliver its first rate hike in decades in the June meeting, and should the bank want to start preparing the markets for such a scenario, we may see BoJ allowing for some hawkish innuendos to escape that may strengthen JPY.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"BOJ interest rate decision due out tomorrow\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/EFC1hL89UNk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>USD\/JPY seems to have hit a ceiling at the 148.25 (R1) resistance line. Yet there is still an upward trendline guiding the pair and given that the RSI indicator remains above the reading of 50, we tend to maintain our bullish outlook for the pair, despite the relative stabilisation of its price action over the past few days. Should the bulls maintain control over the pair, we may see it breaking the 148.25 (R1) resistance line and aim if not breach the 149.70 (R2) resistance level. Should the bears take over, we may see USD\/JPY breaking the prementioned upward trendline in a first signal that the upward motion has been interrupted and aim if not reach the 146.30 (S1) support base.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>After an easy-going Monday, on Tuesday\u2019s Asian session, we note the release of Australia\u2019s NAB indicators for December and Japan\u2019s chain store sales growth rate for December.<\/p>\n\n\n\n<p>AUD\/USD edged higher on Friday aiming for the 0.6620 (R1) resistance line. We note the downward trendline which was put to the test during today\u2019s early Asian session, and tend to maintain a bearish outlook for the pair. Yet we would note that the RSI indicator below our 4-hour chart remains near the reading of 50, implying a rather indecisive market that may allow the pair to stabilise. Should the selling interest to be renewed we would expect a lower trough than the last one thus we require the pair to break the 0.6515 (S1) line and aim for the 0.6400 (S1) line. For a possible stabilisation of the pair a breaking of the prementioned downward trendline would be required signalling the interruption of the downward movement and for a bullish outlook AUD\/USD has to break also the 0.6620 (R1) line and aim for the 0.6725 (R2) barrier.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday we note the release of Eurozone\u2019s preliminary January consumer confidence and New Zealand\u2019s CPI rates for Q4. On Wednesday, we note the release of the preliminary PMI figures of Australia, Japan, France, Germany, the Eurozone and the US for January, while we also get Japan\u2019s trade data for December and on the monetary front we note from Canada the release of BoC\u2019s interest rate decision. On Thursday, we get Germany\u2019s January Ifo indicators, Canada\u2019s Business Barometer for January, and from the US we get December\u2019s durable goods orders for December and weekly initial jobless claims figure, while we highlight the release of the preliminary US GDP advance rate for Q4. On a monetary level, we note the release from Norway Norgesbank\u2019s, from Turkey CBT\u2019s and ECB\u2019s interest rate decision. Finally, on Friday, we note the release of Japan\u2019s Tokyo CPI rates for January, Germany\u2019s GfK consumer sentiment for February and from the US the consumption rate and the Core PCE Price index growth rates, both being for December.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/01\/image-89.png\" alt=\"EUR\/USD technical chart showing trends alongside BoJ interest rate and USD\/JPY data for market analysis.\" class=\"wp-image-75987\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 146.30 (S1), 144.45 (S2), 143.00 (S3)<\/p>\n\n\n\n<p>Resistance: 148.25 (R1), 149.70 (R2), 151.85 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/01\/image-90.png\" alt=\"Technical chart of EUR\/USD showing market trends affected by BoJ interest rates and AUD\/USD movements.\" class=\"wp-image-75988\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6515 (S1), 0.6400 (S2), 0.6270 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6620 (R1), 0.6725 (R2), 0.6870 (R3) <\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1996\" height=\"490\" src=\"\/wp-content\/uploads\/2024\/01\/image-91.png\" alt=\"\" class=\"wp-image-75989\" title=\"benchmark-22-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1077\" height=\"644\" src=\"\/wp-content\/uploads\/2024\/01\/image-93.png\" alt=\"\" class=\"wp-image-75991\" title=\"table-22-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"1077\" src=\"\/wp-content\/uploads\/2024\/01\/image-92.png\" alt=\"\" class=\"wp-image-75990\" title=\"morning-releases-22-01-2024\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:reseach_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The slowdown of Japan\u2019s CPI rates tends to justify BoJ\u2019s hesitancy to normalize its ultra-loose monetary policy settings, currently in<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-75986","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BoJ Interest Rate Decision Ahead as Markets Watch JPY<\/title>\n<meta name=\"description\" content=\"BoJ interest rate decision looms as slowing CPI keeps policy dovish; markets assess JPY reaction and hints of future tightening.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/en\/wp-json\/wp\/v2\/posts\/75986\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoJ\u2019s interest rate decision ahead\" \/>\n<meta property=\"og:description\" content=\"BoJ interest rate decision looms as slowing CPI keeps policy dovish; markets assess JPY reaction and hints of future tightening.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/en\/bojs-interest-rate-decision-ahead-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-22T08:07:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-09T13:35:26+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"BoJ\u2019s interest rate decision ahead\",\"datePublished\":\"2024-01-22T08:07:32+00:00\",\"dateModified\":\"2025-12-09T13:35:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/\"},\"wordCount\":772,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/\",\"name\":\"BoJ Interest Rate Decision Ahead as Markets Watch JPY\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\"},\"datePublished\":\"2024-01-22T08:07:32+00:00\",\"dateModified\":\"2025-12-09T13:35:26+00:00\",\"description\":\"BoJ interest rate decision looms as slowing CPI keeps policy dovish; markets assess JPY reaction and hints of future tightening.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/bojs-interest-rate-decision-ahead-2\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BoJ\u2019s interest rate decision ahead\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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