If there is room for improvement in making policy more effective and sustainable, we will put such steps into place
- BOJ will examine whether various tools, including YCC operation and asset purchases, are having their intended effects
- Hopes to conduct policy examination in a forward-looking manner and find ways to more effectively achieve economic and price stability
Much like what the ECB is doing with its strategic review, the BOJ will also undergo a thorough examination of its policy framework and release its findings in March next year.
That said, I wouldn't expect any major change to follow - particularly since they have already expressed clearly their 'overshoot' commitment (similar to the Fed).
Further Development
Analyzing the current trading chart of Gold, I found that there is the rising ttrendline active and potential for the bullish continuation as I wrote yesterday.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Ethanol and Lean Hogs today and on the bottom Natural Gas and Lumber.
Gold is slightly positive for today....
Key Levels:
Resistances: $1,884 and $1,906
Support levels: $1,860 and $1,855
