Posted 3/18/2024, 11:15:00 PM
Bank of Japan Set to End Crisis-Era Policies Amid Signs of Wage and Inflation Pick Up
- Bank of Japan expected to end negative interest rates and yield curve control at upcoming meeting, marking a major policy shift
- Move comes after high wage growth in Japan over 5% seen as necessary to generate sustainable inflation
- If BoJ signals very gradual further policy normalization, yen likely to weaken as bulls cut exposure
- However, yen still set for gains longer-term even in that scenario
- Technical analysis USD/JPY consolidating above 149; watch 149-150 resistance and 147-148 support
