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New Monetary Policy of the Bank of Japan

New Monetary Policy of the Bank of Japan | 19 March 2021

19 March 2021, USD/JPY

New Monetary Policy of the Bank of Japan

USDJPY trading plan:

Following the BOJ's decision to widen the target band for the 10-year Japanese government bond yield to 25 basis points around 0% from 20 basis points previously, the yen briefly weakened past. Following its two-day policy meeting, the central bank also removed its explicit guidance to buy exchange-traded funds at an annual pace of roughly 6 trillion yen, which gives it more room to wind back its market stimulus. "We judged that it was necessary to maintain monetary easing at a sustainable form to achieve our 2% inflation target," the BOJ said in a statement announcing the outcome of its review.

Investment idea: range 108.40 -109.30.

David Johnson
Analyst of «FreshForex» company
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