USDJPY – Down
USDJPY trading plan:
Japan’s inflation is „clearly in sight“ of the central bank’s target, its board member Naoki Tamura said, signalling the chance of an end to negative interest rates early next year. The remarks are the strongest signal to date by a Bank of Japan policymaker that rising inflation and wages could prod the bank to take bolder steps towards phasing out its radical stimulus. For now, the BOJ must sustain monetary easing to scrutinise wage and price developments, said the former commercial banker. „But I’m hoping that around January through March next year, we will have further clarity“ on whether Japan can sustainably meet the bank’s inflation target through wage and price data available by then, he said. This is a negative signal for the Japanese currency.
Investment idea: buy 146.21 and take profit 147.10.
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