USDJPY – Down
USDJPY trading plan:
Bank of Japan conducted a rate check in possible preparation for currency intervention, while investors digested U.S. producer prices data. In a rate check, central bank officials call up dealers and ask for the price of buying or selling yen. However, actually intervening to support the currency would be a larger step. Japanese Finance Minister Shunichi Suzuki told reporters that recent yen moves have been „rapid and one-sided“, adding that yen-buying currency intervention was among the government’s options should such moves continue. As inflation is a small concern in Japan, authorities are keeping yields on Japanese government bonds pinned down to help with the economic recovery.
Investment idea: sell 144.00 and take profit 143.44.
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