The Bank of Japan feels optimistic about the results of its monetary policies. According to some central bankers, the recent policies will get support from the current economic recovery in Japan and higher inflation expectations.
They say investors will focus on riskier assets while waiting for higher yields for long-term US bonds amid the global economic recovery.
The Japanese economy is already showing some positive tendencies. In particular, the Tankan index has grown this month. This is the 5th consecutive month of growth.
Forex
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of USDJPY. The currency pair is still rallying and trying to elongate the existing uptrend.
A further rally will probably encounter resistance around 99.88 и 99.94 and 100.81/85, 101.25. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 95.79 (as shown below).
