Technical Analysis

Don’t like higher interest rates and higher dots? Relax, the BOJ has got your back.

The Bank of Japan September Monetary Policy Statement is due today, Thursday, 22 September 2022.

  • There is no firmly scheduled time for the BOJ statement, its reasonable to expect it some time in the 0230 to 0330 GMT time window

Yesterday the Bank heavily intervened in the Japanese Government Bond market:

More on the aggressive, unscheduled Bank of Japan bond-buying today

The BOJ is seeking to drive down JGB yields from recent highs. This is not a sign that the Bank will be changing its ultra-easy policy any time soon, not today a least.

Earlier previews:

USD/JPY backed off from highs ahead of 145, its difficult to expect that level to hold it down as the policy divergence between a hawkish Federal Reserve and dovish BOJ persists.

Even rudimentary technical analysis looks bullish:

I am sure technical analysts trading USD/JPY can do a better job than me, in the comments please folks!

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