USD/JPY fails to find direction this week. BOJ cuts its purchases of bonds with maturities between 10 and 25 years. Housing starts and building permits decline in the U.S. The USD/JPY pair remains frozen below the 112 handle in the NA session and there is no reason for it to make a meaningful move as investors are already enjoying the Easter holiday. In fact, the pair is trading in the middle of its extremely tight 50-pip weekly range, reaffirming the pair’s indecisiveness. Earlier today, the Bank of Japan announced that it cut its purchases of bonds with maturities between 10 and 25 years by ¥20 billion to ¥160 billion, but failed to get a reaction from the market as that move is seen as a part of the bank’s strategy to keep the benchmark yield near zero levels. Next week, the BoJ will be announcing its monetary policy decisions and publishing the first quarter outlook report. According to Reuters’ poll of 17 economists on the BoJ’s policy stance, no changes are expected. “The BOJ will retain its massive stimulus as well as the short-term interest rate target at minus 0.1 percent, while also maintaining its pledge to guide 10-year government bond yields around zero percent at its April 24-25 meeting,” Reuters said. On the other hand, today’s data from the U.S. showed that housing starts and building permits in March declined to fall short of the market expectation for a modest rebound in both data following February’s contraction. However, the thin trading volume allowed the US Dollar Index to stay calm above the 97 mark. On Monday, Chicago Fed’s National Activity Index and existing home sales data from the U.S. will be looked upon dor fresh impetus. Key technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ripple’s XRP Price Prediction: XRP/USD back within the mundane 2019 range – Confluence Detector FX Street 4 years USD/JPY fails to find direction this week. BOJ cuts its purchases of bonds with maturities between 10 and 25 years. Housing starts and building permits decline in the U.S. The USD/JPY pair remains frozen below the 112 handle in the NA session and there is no reason for it to make a meaningful move as investors are already enjoying the Easter holiday. In fact, the pair is trading in the middle of its extremely tight 50-pip weekly range, reaffirming the pair's indecisiveness. Earlier today, the Bank of Japan announced that it cut its purchases of bonds with maturities between 10… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.