There are interest rates that banks set to determine the key interest rate for different types of lending. Their size depends on the supply and demand for credit resources, market interest rates and other factors. Initially, the base interest rate is set by the central bank of the country; at this rate, all other banks can borrow from the central bank. The base interest rate set by the central bank has a direct impact on the value of said country’s currency. Therefore, tracking changes in this indicator can help the trader in making trades in forex.

The first currency in a currency pair in the Forex market.

This type of chart contains four values of an asset price for each time interval: high, low, opening, and closing prices. High and low prices are reflected by a vertical line, while the opening and closing prices – by horizontal lines. The line on the left of the bar is the opening price, while the line on the right of the bar is the closing price.

The Bank of Japan is the central bank of Japan.