Unlimited!
As I said 'Yen meh' in my market musings blog, the BoJ hit the wires:
- BOJ announce special fixed rate JGB buying operation
- BOJ offers to buy unlimited amount of 10 year JGBs at yield of 0.100%
- USD/JPY bouncing as a result.
The USD/JPY daily:
Bullish USD/JPY news as price retests previous resistance as support on the daily?
Boom!
I take back anything I said about the Yen earlier. If we're getting some bullish momentum on the pair out of both the news and the technical spot we're in, pullbacks are going to be a buying opportunity.