BOJ Offers To Buy Bonds Again, USDJPY Sways Towards Bull.
The Bank of Japan once again launched bond purchases, and the USDJPY interest rate spread widened, which was beneficial to the USDJPY.
Investors are recommended to consider marginal Long after the price pulls back to 128.40, Target 130.00, Stop-Loss by 127.60.
It is currently only one step away from the panic point of the Bank of Japan of 130, after the yen exchange rate fell for thirteen consecutive days and set the longest losing streak in 50 years yesterday. Despite that, the Bank of Japan has once again decided to offer to buy bonds and their commitment to monetary policy ultra-loose. While limiting the rise in bond yields through a new round of unplanned bond purchases, contrasted with the yield on the 10-year U.S. Treasury note of the same maturity, which moved towards 3% on Wednesday. The gap between the two is getting bigger and bigger, so the market outlook of the USDJPY will be a more volatile and bullish pattern.
In the H4 range, , the K-line is currently running above the middle rail of the Bollinger Band in a volatile bullish pattern. The KD indicator is running at a high position. The MACD indicator has multiple kinetic energy, and the overall judgement is that the market is volatile but in a bullish perspective.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.