FXStreet (Guatemala) - Analysts at Bank of Tokyo mitsubishi explained that they believe there are three key factors that have been at play to help support the yen, factors that we believe will continue into next year. Key Quotes: "Firstly, the BOJ has become increasingly reluctant to ease its monetary policy further. The steps taken by the BOJ were all technical and more designed to maintain the current stance rather than to implement further easing. If anything the BoJ's action underlines the constraints that exist in implementing additional easing." "Governor Kuroda stated that there is no limit to monetary easing. But there clearly is and the extension of JGB maturities to 12yrs and the expansion of acceptable collateral underline the growing scarcity of JGBs in the open market." "Furthermore, there was nothing in the comments made by Governor Kuroda to suggest the BOJ is moving toward additional monetary easing. Admittedly, the wage negotiation period in Q1 2016 will be important and might change the BOJ’s stance but for now the BOJ remains optimistic over building price pressures persisting." "The BOJ is likely to cite underlying inflation (ex-fresh food & energy CPI at 1.2%) as justification for maintaining rather than increasing easing, especially with the economy now showing signs of improvement. It’s worth noting that on a per-capita GDP basis (World Bank data), Japan is the best performing G4 economy since the financial crisis (Japan 8.4%; US 7.3%; UK 5.0%; EZ 2.4%)." For more information, read our latest forex news.