the yield control program effects the cost of carry on participants when buying and holding yen.
positive usdjpy means participants are selling yen vs usd. however, negative usdjpy means participants are buying yen vs usd. since yen purchases are associated with fear.
the yield control program has had an indirect effect on equities globally. i dont think the sales tax hike will be successful due to public outrage. that being said.
long term business as usual. but til then the japanese sales tax hike will require yen appreciation which will result in equity