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Mar 19 - 01:55 AM

USD/JPY - BOJ Delivers As Expectated - Muted JPY Impact

By Andrew M Spencer  —  Mar 19 - 12:03 AM
  • BoJ removed the mandate to buy ETFs at annual pace of 6tln yen nT9N2LA08J

  • 10-yr yield target range raised to 0.25% from 0.2% around zero nL4N2LH0Y9

  • Both changes flagged by the Nikkei on Thursday - modest impact expected

  • No initial FX reaction; USD/JPY +0.05%, Nikkei extends to -1.6% nT9N2JS00G

  • Charts; nearly two weeks of consolidation above 108.28 range support

  • 5, 10 & 21 daily moving averages and Kijun lines climb

  • Positive setup targets a test of 109.56, 76.4% March/January fall

  • Close below 108.28 range base would target 107.05 Kijun line

  • For more click on FXBUZ

  • For more click on FXBUZ

jpy 2 mar 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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