Currency market: AUD/JPY and NZD/JPY long term targets
|AUD/JPY long term targets must break 97.19 then 96.68, 96.11, 93.40. AUD/JPY bottom over next weeks and months is located at 93.40 and 91.76.
NZD/JPY must break below 90.66 then 89.90, 86.80 and a big bottom line at 85.12 and 83.87
BOJ March meeting 2%, April and June 7%, August 11% and September 16%. The BOJ isn't moving on anything and not anytime soon.
To take the interest rate system from negative to positive requires a massive adjustment for foreign and domestic banks, corporates, insurance companies.
What will the new system look like, how will it trade, how to factor trades, what affects to USD/JPY, Exports, GDP, inflation. The new system to positive will have funny quirks as all central bank interest rate systems and must be addressed and tested before implementation.
USD/JPY for YCC = 120.00's to 190.00's. YCC elimination is the first big event for the BoJ is YCC is not required. The BoJ has plenty of money invested in bonds from 2 to 10 year JGB's to rescue yields and USD/JPY if either trades off kilter.
USD/JPY trades below 148.20. Over next weeks, here's highs and lows. 149.93, 149.15, 149.05, 148.36.
Lows: 147.56, 147.27, 146.47, 145.79, 145.70, 144.94.
January Consumer spending down 6.3%, and down for 11 straight months. Exports and Imports factor as monthly Exports 1.3 Vs Imports 1.1. Yearly 8.8 Exports Vs 0.2 Imports. Oil on the import side remains a problem at -0.32.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.