USDJPY – Down
USDJPY trading plan:
Bank of Japan policymakers saw the need to keep ultra-low interest rates but discussed growing prospects that higher wages could finally eradicate the risk of a return to deflation, a summary of opinions at their December meeting showed. Their increasing attention to mounting inflationary pressures could keep alive market expectations the BOJ will phase out dovish Governor Haruhiko Kuroda’s massive stimulus when he steps down in April next year. Several in the nine-member board said the decision was aimed at making the current stimulus programme more sustainable by addressing its side-effects, rather than a step toward ending ultra-loose monetary policy, the summary showed.
Investment idea: range 133.35 – 134.25
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