With fundamentals continuing to show an uneven trajectory, Bank of Japan Governor Haruhiko Kuroda reiterated that the central bank had no intention of withdrawing the massive monetary stimulus anytime soon in comments overnight.
Given that inflation continues to remain way below its 2.00% target, bond purchases and yield targeting are likely to continue until the outlook stabilizes.
Kuroda further added that while business conditions were improving in Japan, downside risks remain significant, with broader economic activity not strong enough to drive inflation higher.
The Bank of Japan had restated its short-term interest rate target of -0.10%, and pledged to guide the 10-year government bond yield closer to 0.00% after the March 16th policy decision.
USDJPY has bounced of a four-month low in Friday trade, and was last seen trading below 111.350.