6:21 PM
FXTM Online Analysis Department.
The USD/JPY pair remains exactly in the middle of the medium-term trading channel, as investors calmly analyze the text of the protocol of the meeting of the BoJ.
Everyone would love to have as much inner peace as the Japanese yen. Major global macroeconomic factors have long been calculated into long-term prices, the Bank of Japan is implementing an active policy to stimulate, and the foreign exchange market has very few alternatives to the USD/JPY pair.
This morning text of the protocol of the next meeting of the Bank of Japan was published, which took place on 16-17 March. According to the document, everything remains in the same places: the economy of Japan will gradually recover, while the regulator will continue to work with the soft fiscal policy. The main objective of the work is inflation of 2%, balanced and sustainable.
The protocol itself was fairly neutral: Key macroeconomic indicators of Japan changed insignificantly last month. According to the head of the BoJ Mr. Kuroda, while inflation in Japan will remain near zero, the ultrasoft policy will last only as long as it is necessary to achieve the goals. The Bank intends to adjust the QQE program (stimulation in the form in which it is now implemented by the Bank of Japan) as needed.
The USD/JPY pair for now remains in the range of 119.70-121.50.
FXTM Online Analysis Department.
The USD/JPY pair remains exactly in the middle of the medium-term trading channel, as investors calmly analyze the text of the protocol of the meeting of the BoJ.
Everyone would love to have as much inner peace as the Japanese yen. Major global macroeconomic factors have long been calculated into long-term prices, the Bank of Japan is implementing an active policy to stimulate, and the foreign exchange market has very few alternatives to the USD/JPY pair.
This morning text of the protocol of the next meeting of the Bank of Japan was published, which took place on 16-17 March. According to the document, everything remains in the same places: the economy of Japan will gradually recover, while the regulator will continue to work with the soft fiscal policy. The main objective of the work is inflation of 2%, balanced and sustainable.
The protocol itself was fairly neutral: Key macroeconomic indicators of Japan changed insignificantly last month. According to the head of the BoJ Mr. Kuroda, while inflation in Japan will remain near zero, the ultrasoft policy will last only as long as it is necessary to achieve the goals. The Bank intends to adjust the QQE program (stimulation in the form in which it is now implemented by the Bank of Japan) as needed.
The USD/JPY pair for now remains in the range of 119.70-121.50.
FXTM Online Analysis Department.
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