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| Action Insight Weekly Report | Markets Snapshot |
Daily Report: Yen Volatile after BoJ Expanded Bond Purchase, Spain Yield Watched after DowngradeBoJ left rates unchanged at 0-0.1% today. Also, the bank decided to boost government bond purchase by JPY 10T. In addition, BOJ will also expand purchases of ETFS by JPY 0.2T and REITS by JPY 0.1T. On the other hand, BoJ reduce the six-month fixed-rate loan by JPY 5T due to lackluster demand. The bank also extended deadline for the asset buying target by six months, with 2012 year end target unchanged at JPY 65T and the now JPY 70T target will be met in June 2013. Overall, BoJ expects that "together with the cumulative effects of earlier policy measures, today's decision to further enhance monetary easing will better ensure the return of Japan's economy to a sustainable growth path with price stability." The bank expects inflation to approach its 1% target as early as in 2014. |
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| Featured Technical Report | |
USD/JPY Daily OutlookDaily Pivots: (S1) 80.61; (P) 81.02; (R1) 81.37; More... Some volatility is seen in USD/JPY today but it's still staying below 81.77 resistance and remains pressured. Bias is mildly on the downside or 80.29 support and break will extend the choppy pull back from 84.17 to 61.8% retracement of 76.02 to 84.17 at 79.13. On the upside, though, break of 81.77 will indicate that pull back from 84.17 is already completed and will bring stronger rebound. |
| Special Reports |
FOMC And RBNZ Meeting ReviewAs expected, the Fed maintained the policy rate unchanged at 0-0.25% and did not add further monetary easing measures. While the post-meeting statement contained only modest changes from the previous ones, the latest economic projections sent a confusing outlook. Fed Chairman Ben Bernanke reiterated that the central bank has 'prepared to do more as needed to make sure that this recovery continues and that inflation stays close to target'. The language to leave interest rates at exceptionally low level at least until mid-2014 remained unchanged. |
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Remark: Next Ichimoku and Candlestick intra-day trade idea update will be made on Monday 30 April 2012 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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