BoJ Preview: New face, new game? – TDS BOJ CentralBanks USDJPY Banks
Analysts at TD Securities offer a brief preview of what they expect from Friday’s Bank of Japan , the BoJ is expected to keep all of its policy levers unchanged. We think it is highly likely that a formal policy review is announced. That should put the next YCC shift as early as June. Generally, we think assuming a YCC change sooner rather than later is a prudent strategy. Lifting the yield cap to 1% as its next move has a lot of appeal.
“For this reason, we like owning some yen upside through the meeting via a 1m 132/129 USDJPY put-spread. We also like the tactical setup going into the Fed meeting and NFP meeting next month. The yen should trade with an asymmetric bias given the If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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