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The BOJ's huge bond buying

The BOJ's huge bond buying | 29 March 2023

29 March 2023, USD/JPY

The BOJ's huge bond buying

USDJPY trading plan:

Bank of Japan Deputy Governor Shinichi Uchida said a tweak to the central bank's bond yield control policy will "undoubtedly" become an option if economic and price conditions justify phasing out stimulus. "We won't rule out any option, if we deem it as necessary for Japan's economy and achievement of price stability," Uchida said, when asked by an opposition lawmaker whether the BOJ could raise its long-term yield target, while keeping short-term interest rates very low. Uchida said trend inflation was "extremely important" in judging whether Japan will sustainably meet the BOJ's 2% price target.

Investment idea: buy 131.50 and take profit 132.27.

David Johnson
Analyst of «FreshForex» company
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