USD/JPY: 152.00 now becomes a big psychological level going into Wednesday’s FOMC – SocGen

USD/JPY rose back above 150.00 after the Bank of Japan abolished negative interest rates and yield curve control. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes the pair’s outlook.

A well-flagged BoJ move has emboldened Yen bears

The BoJ brought the age of negative rates and yield curve control to an end. 

I’m disappointed by the market reaction to the BoJ because there’s a good chance this eventually proves to be a pivotal moment for Japan and the BoJ. 

USD/JPY 152.00 now becomes a big psychological level going into Wednesday’s FOMC.