FXStreet (Bali) - Danske Bank expects the BoJ to ease further on Oct 30th, revising their 1M and 3M forecasts higher to 124 (120) and 125 (124). Key Quotes "We change our call and now expect the BoJ to add further stimulus at the 30 October meeting in the form of additional QQE with an increase of its target for the annual monetary base expansion from JPY80trn to JPY100trn." "This should ensure shortterm support for USD/JPY and we have revised our 1M and 3M forecasts higher to 124 (120) and 125 (124), respectively." "The relatively modest upward revision of the 3M forecasts despite our call for more BoJ easing reflects a postponement of the first Fed hike to Q1 16 and a diminishing effect on the JPY verus previous easing announcements." "Longer term, we expect USD/JPY be caught in a range by relative monetary policy, on the one hand supporting the cross, while increasing headwinds stemming from the significant JPY undervaluation are likely to cap the cross." For more information, read our latest forex news.