USDJPY – Down
USDJPY trading plan:
Japan’s new central bank chief will take baby steps in any shift away from the radical monetary experiment of his predecessor, if recent comments are any guide, but a deeper history of his thinking shows a taste for bolder action. Kazuo Ueda told a parliamentary confirmation hearing in February that he will „spend time and engage in thorough discussions“ with BOJ board members on how to address the side-effects of prolonged easing. But he also said there was no „magical“ policy that cures economic woes, a sign he will shift away from his predecessor’s shock-and-awe approach of deploying a range of radical steps with a strong focus on achieving the BOJ’s 2% inflation target.
Investment idea: buy 131.67 and take profit 132.40.
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