USD/JPY Charts Another Higher Trough In Its Series Of Peaks And Trough
The below is the daily chart of the USDJPY. We note that a new higher trough (HT*) has charted in the series of higher troughs followed by higher peaks. As such, the USDJPY uptrend continues. Overnight the BOJ kept is policy rate at -0.10%, with Governor Kuroda saying that negative rates facilitate a desirable yield curve. The BOJ also downgraded its economic outlook on exports and production, maintaining that this was due to the global slowdown. The inflation target has been kept at 2%.
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