The Market reaction to the BOJ Governor Haruhiko Kuroda press conference yesterday was disappointed, combined with
the Japanese corporation starting their new fiscal year. Money flow back to Japan . USDJPY has reach 18 month low.
The Bank of Japan’s (BOJ) foray into negative interest rates hasn’t yielded positive results, and the central bank’s arsenal is getting thin.
But purchases of JGBs may be losing their punch, with the BOJ now owning more than a third of the country’s outstanding government
last week, the BOJ’s Tankan survey of big manufacturers showed confidence worsened more than expected in the first quarter, with the
decline in part due to the negative-rate policy.
All of these factor added up steep down od USDJPY to reach a monthly and weekly support area.
The 4H stochastic pointing upward nicely. Today is Friday many Trader probably close their Sell position. So that they can sell again next