{"id":26600,"date":"2022-01-17T09:27:56","date_gmt":"2022-01-17T07:27:56","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=26600"},"modified":"2025-10-13T13:01:06","modified_gmt":"2025-10-13T10:01:06","slug":"boj-expected-to-remain-on-hold","status":"publish","type":"post","link":"https:\/\/www.smartindonesiafx.id\/ms\/boj-expected-to-remain-on-hold\/","title":{"rendered":"BoJ expected to remain on hold"},"content":{"rendered":"<p>The USD was on the rise on Friday against a number of its counterparts, yet the bull\u2019s dominance seems to have lost steam given that December\u2019s US retail sales growth rate along with other US data tended to disappoint USD traders as the readings were worse than expected. On the other hand, US Stockmarkets seemed to be disappointed by earnings results reported for Q1 and in the coming week we expect interest in the stockmarkets to intensify given that the earnings season is on. It should also be mentioned that the markets seem to brace for a more hawkish Fed while USD yields were on the rise on Friday again which may have provided additional support for the USD. JPY retreated and traders wait for BoJ\u2019s interest rate decision early tomorrow, as the bank is widely expected to remain on hold at -0.10 and economists and analysts mention that the bank could be adjusting its view on inflation risks, for the first time since 2014.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n<p>Nevertheless, despite some nudging up of the inflation and GDP projections being expected by BoJ, it is rather unlikely that the bank is to move away from its usual dovish stance and ultra-loose monetary policy. Aussie traders may have been disappointed by China\u2019s GDP rates for Q4 2021, yet it should be noted that the rate decelerated less than expected while on the contrary Chinese industrial output growth rate accelerated for December which was good news for Australian exporters of raw materials. The Loonie retreated against the USD on Friday as well as during today\u2019s Asian session, despite oil prices being on the rise as expectations for oil supply to remain tight&nbsp; seemed to be on the rise.<\/p>\n\n\n\n<p>USD\/JPY was on the rise on Friday and during today\u2019s Asian session and is currently teasing the 114.45(S1) level. We tend to maintain expectations for the pair to rise further given its bullish tendencies, yet we must note that the RSI indicator below our 4-hour chart is at the reading of 50 implying a rather indecisive market, yet with an upward slope. Should the bulls actually have the upper hand, we may see the pair taking aim for the 115.45 (R1) resistance line. Should the bears take over, we may see the pair breaking the 114.45 (S1) support line and aim for the 113.70 (S2) support level.&nbsp;&nbsp; &nbsp;<\/p>\n\n\n\n<p>AUD\/USD dropped yesterday breaking the 0.7230 (R1) support line now turned to resistance. We tend to maintain a bearish outlook for the pair given also that the RSI reading is between 50 and 30 implying that the bears have the advantage Should the selling interest be extended we may see the pair breaking the 0.7170 (S1) and take aim for the 0.7100 (S2) level. Should on the other hand the buyers take charge of the pair\u2019s direction, we may see AUD\/USD breaking the 0.7230 (R1) line and take aim of the 0.7295 (R2) level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Other highlights for today and early tomorrow<\/strong><\/h2>\n\n\n\n<p>Besides BoJ\u2019s interest rate decision during tomorrow\u2019s Asian session we note today the release of Norway\u2019s Trade Balance for December, the Czech Republic\u2019s PPI rates for December and Canada\u2019s Manufacturing sales for November.<\/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 Monday the 17th of January we get from China Q4s\u2019 GDP rate as well as Decembers\u2019 industrial output, retail sales and urban investment growth rates, while from Japan we get the machinery orders growth rate for November. On Tuesday the 18th , besides BoJ\u2019s interest rate decision we also note the release of UK\u2019s employment data, Germany\u2019s ZEW indicators for January, and Canada\u2019s CPI inflation measures for December. On Wednesday the 19th we get from Germany the final HICP rate for December as well as UK\u2019s inflation metrics for the same month. On Thursday the 20th of January we get from Japan the trade data, from Australia Employment data and Eurozone\u2019s final HICP rate, al aforementioned data being for December.<\/p>\n\n\n\n<p>We also get from the US the weekly initial jobless claims figure, and January\u2019s Philly Fed Business index, while on the monetary front we note the release of Norway\u2019s Norgesbank interest rate decision and from Turkey CBT\u2019s interest rate decision. On Friday the 21st of January we get from Japan the CPI rates for December, UK\u2019s retail sales for also for December, Canada\u2019s retail sales for November and Eurozone\u2019s preliminary consumer Sentiment for January.<\/p>\n\n\n\n<p><strong>AUD\/USD H4 Chart&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"942\" height=\"443\" src=\"\/wp-content\/uploads\/2022\/01\/aud-usd-17-1-2022.png\" alt=\"support at zero point seven one seven and resistance at zero point seven two three, direction downwards   \" class=\"wp-image-26601\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.7170 (S1), 0.7100 (S2), 0.7050 (S3)<\/p>\n\n\n\n<p>Resistance: 0.7230 (R1), 0.7295 (R2), 0.7365 (R3)<\/p>\n\n\n\n<p><strong>USD\/JPY H4 Chart&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"941\" height=\"441\" src=\"\/wp-content\/uploads\/2022\/01\/usd-jpy-17-1-2022.png\" alt=\"support at one hundred and fourteen point forty five and resistance at one hundred fifteen point forty five, direction upwards   \" class=\"wp-image-26602\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 114.45 (S1), 113.70 (S2), 112.70 (S3)<\/p>\n\n\n\n<p>Resistance: 115.45 (R1), 116.30 (R2), 117.10 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1283\" height=\"317\" src=\"\/wp-content\/uploads\/2022\/01\/benchmark-17-1-2022.png\" alt=\"\" class=\"wp-image-26603\" title=\"benchmark-17-1-2022\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"835\" height=\"487\" src=\"\/wp-content\/uploads\/2022\/01\/table-17-1-2022.png\" alt=\"\" class=\"wp-image-26604\" title=\"table-17-1-2022\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1081\" height=\"586\" src=\"\/wp-content\/uploads\/2022\/01\/morning-releases-17-1-2022.png\" alt=\"\" class=\"wp-image-26605\" title=\"morning-releases-17-1-2022\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">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:research_team@ironfx.com\" target=\"_self\">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>","protected":false},"excerpt":{"rendered":"<p>The USD was on the rise on Friday against a number of its counterparts, yet the bull\u2019s dominance seems to<\/p>","protected":false},"author":19,"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-26600","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>Forex blog - IronFX\u2122 | The Global Leader In Online Trading<\/title>\n<meta name=\"description\" content=\"The USD was on the rise on Friday against a number of its counterparts, yet the bull\u2019s dominance seems to have lost steam\" \/>\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\/ms\/wp-json\/wp\/v2\/posts\/26600\/\" \/>\n<meta property=\"og:locale\" content=\"ms_MY\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoJ expected to remain on hold\" \/>\n<meta property=\"og:description\" content=\"The USD was on the rise on Friday against a number of its counterparts, yet the bull\u2019s dominance seems to have lost steam\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smartindonesiafx.id\/ms\/boj-expected-to-remain-on-hold\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-17T07:27:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-13T10:01:06+00:00\" \/>\n<meta name=\"author\" content=\"Peter Iosif\" \/>\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.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/\"},\"author\":{\"name\":\"Peter Iosif\",\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/#\\\/schema\\\/person\\\/2935ff75695a5b909e25963a12b437ac\"},\"headline\":\"BoJ expected to remain on hold\",\"datePublished\":\"2022-01-17T07:27:56+00:00\",\"dateModified\":\"2025-10-13T10:01:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/\"},\"wordCount\":1032,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"ms-MY\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/\",\"url\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/\",\"name\":\"Forex blog - IronFX\u2122 | The Global Leader In Online Trading\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/#website\"},\"datePublished\":\"2022-01-17T07:27:56+00:00\",\"dateModified\":\"2025-10-13T10:01:06+00:00\",\"description\":\"The USD was on the rise on Friday against a number of its counterparts, yet the bull\u2019s dominance seems to have lost steam\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/#breadcrumb\"},\"inLanguage\":\"ms-MY\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/boj-expected-to-remain-on-hold\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BoJ expected to remain on hold\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/#website\",\"url\":\"https:\\\/\\\/www.smartindonesiafx.id\\\/ms\\\/\",\"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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