As expected BOJ
kept policy same and maintained upside assessment on economy,The central bank also decided to extend three special loan facilities by
one year from their scheduled expiry at end March. The facilities had been
cobbled together between 2010 and 2012 as a way to drive funds through the
banking sector to borrowers.
But major question arise here is how long BOJ will
continue?? Do they need more easing as market is still waiting for more
convincing evidence that structural reform will attain more substantial
progress,
Although market eyes will be on Wednesday’s FOMC
minutes which may drive markets further.
Following are trade calls for today,
- Buy Eur/Usd at 1.3680 stop below 1.3620 target 1.3805
- Sell SnP500 at 1850 stop above 1858 target 1833/open
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