The USD/JPY pair is approaching 134.50 amid the release of the dovish Bank of Japan (BoJ) minutes for the monetary policy meeting, announced last week on March 09. The last monetary policy announcement by ex-BoJ Governor Haruhiko Kuroda lacked surprises as a continuation of an ultra-dovish policy stance was highly required to keep inflation steady near desired rates.
The commentary in BoJ minutes that the central bank will continue with Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner, indicates that the ultra-loose monetary policy would stay for a longer period.
USDJPY main trend is still down. Currently on the h1 chart this currency pair is in a deep correction. Recommend waiting to sell down when the price returns to 135.00, SL: 135.60, TP: 134.00
The commentary in BoJ minutes that the central bank will continue with Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner, indicates that the ultra-loose monetary policy would stay for a longer period.
USDJPY main trend is still down. Currently on the h1 chart this currency pair is in a deep correction. Recommend waiting to sell down when the price returns to 135.00, SL: 135.60, TP: 134.00
