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Negative forecast of the Bank of Japan

Negative forecast of the Bank of Japan | 20 April 2021

20 April 2021, USD/JPY

USDJPY trading plan:

The Bank of Japan will consider slashing this fiscal year's inflation forecast in quarterly forecasts due out at its policy meeting on April 26-27, the Nikkei newspaper reported. The downgrade will reflect the impact of cuts in cell phone charge fees, which could push down core consumer inflation by around 0.2 percentage point. The central bank is also seen projecting inflation to hover around 1% in fiscal 2023, the paper said. The BOJ currently expects core consumer prices to rise 0.5% in the year that began in April. This is a negative signal for the Japanese yen.

Investment idea: buy 108.15 and take profit 108.60.

David Johnson
Analyst of «FreshForex» company
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