USDJPY – Down
USDJPY trading plan:
Some Bank of Japan board members were concerned that excessive currency volatility could disrupt corporate business plans, minutes of the bank’s last meeting showed, highlighting the challenge for policymakers from the yen’s sharp declines. But many board members stressed the need to maintain the BOJ’s massive stimulus programme to support a still-fragile economy. The Bank of Japan must communicate to markets its monetary policy aims at achieving price stability, not at controlling exchange rate moves. The weak yen has become a fresh challenge for Japanese policymakers as it hurts the economy by inflating already rising costs of importing fuel and raw material goods.
Investment idea: buy 135.98 and take profit 136.53.
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