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Moreover, this area had previously acted as resistance, so it could now provide some support or buying pressure.One factor that could impact the yen's exchange rate is the Bank of Japan's monetary policy. The central bank has been implementing a yield curve control policy, which aims to keep the 10-year yield below 50 basis points. To achieve this, the BoJ must buy Japanese bonds every time the market sells off, which increases the supply of yen in circulation.
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