05 Maret 2021, USD/JPY
USDJPY trading plan:
Bank of Japan Governor Haruhiko Kuroda said he saw no need to widen an implicit band set for its long-term interest rate target at a policy review in March, stressing the need to keep borrowing costs low to support a pandemic-ravaged economy. The BOJ caps the 10-year bond yield around zero under a policy dubbed yield curve control, and currently allows the benchmark yield to move 40 basis points around its 0% target. "We need to keep the yield curve stably low" as the economy still suffers the blow from the COVID-19 pandemic, Kuroda said. "I don't think we need to widen the band."
Investment idea: buy 107.90 and take profit 108.40.