BoJ iflation target is still far away while Japanese economy might turn into technical recession. Is the next step for Bank of Japan to increase QE? Not necessarily. It can adjust target date lets say to end of 2016 and stay in 'wait and see' mode. Oil
prices can pick up meanwhile and CPI
can go with it.
Import prices already hurting SME's and local
consumers, weak Yen policy has it's drawbacks.
RECOMMENDATION: stay neautral until price is ranging, act only close to supp/resistance levels. Dont be to dovish or hawkish on BoJ policy.