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Instrument: USDJPY
Bullish Preference:
A Buy position is envisaged if the price trades above 150.281 WithTake profit at 150.434
Bearish Preference:
A Sell position is envisaged if the price trades below 149.975 with Take profit at 149.816
Fundamentals:
1:30 PM USD Employment Cost Index q/q
3:00PM CB Consumer Confidence
4:28AM JPY: BOJ Outlook Report
BOJ Policy Rate
Monetary Policy Statement
BOJ Press Conference
Comment:
The yen weakened on Tuesday after the Bank of Japan (BOJ) maintained ultra-low rates but made a small tweak to its bond yield control policy, disappointing speculators who had expected more from the central bank as price pressures persist.
At the conclusion of its two-day policy meeting, the BOJ said that it would keep the 10-year government bond yield around 0% set under its yield curve control (YCC), but re-defined 1.0% as a loose “upper bound” rather than a rigid cap.
Analysis: SCRUM Team
