The BOJ offers short and long term exchange rate levels. TONA is the new JPY Tibor and employed as the new Swap Rate for 30, 90 and 180 days. Most vital for Swap purposes is 30 and 90 day.
BOJ short term for USD/JPY 141.63 to 143.64. Levels are derived from USD/JPY market rates to BOJ market rates. Never recommended because market rates are never correct. For example, Statistics says 142.22 minimum target while BOJ has 142.78 and 142.49. The BOJ most probably intends 142.78 and 142.49 as vital break points rather than targets.
Overall, the BOJ is reliable for trade purposes as traders won’t ever lose money.
High side and very long term, 156.23, 153.70, 150.73, 149.34, 148.16. Massive overbought USD/JPY won’t see such exchange rates trade.
Low side below 141.63 as follows: 137.31, 136.23, 134.98, 132.36, 130.23.
Brian Twomey
Tianzuida ON TRADING 