The Bank of Japan (BoJ) Governor, Haruhiko Kuroda added to his earlier comments and said that we have no plan now to end ETF purchases or to permanently reduce purchases. Kuroda further clarified that the upcoming review will look into ways to address side effects of ETF purchases.

The dovish remarks, however, did little to provide any meaningful impetus to the USD/JPY pair, which, so far, has been struggling to capitalize on its move beyond the very important 200-day SMA.