DislikedLong ¥76.26, looking for a retrace to ¥77, or a massive pop (intervention). Trade entered at 1:30PM AEST (non-DST) here in Australia. The BoJ usually, if they're going to do something, do something early afternoon.Ignored
Japanese Finance Minister Jun Azumi said today the
government will take decisive action on the currency if needed.
Toyota Motor Corp. Chief Executive Officer Akio Toyoda said
this month the “ideal” exchange rate is 90 yen to the dollar,
after Asia’s largest automaker cut its profit forecast by more
than half in December.
Yen appreciation may force the central bank to expand its
asset-purchase program and buy more government debt, said
Tetsuya Inoue, a former BOJ official who is now chief researcher
for financial markets at Nomura Research Institute Ltd. in Tokyo.
The BOJ currently uses its fund to buy bonds with remaining
maturities of between one and two years.
“The BOJ is running out of options to ease strengthening
pressure on the yen,” Inoue said.