USDJPY – Down
USDJPY trading plan:
The Bank of Japan intends to maintain easy monetary policy and the government’s energy assistance programme will hold down inflation, the central bank’s governor Haruhiko Kuroda told a news conference at a G20 event. The governor expects inflation to be below 2% for fiscal 2023 and fiscal 2024, adding that Japan is no longer in a deflationary environment. Given that import prices have fallen, the Japanese government’s energy assistance will aid in holding down inflation, Kuroda said. This is a negative signal for the Japanese yen.
Investment idea: buy 134.12 and take profit 134.90.
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