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China will maintain a prudent monetary policy

China will maintain a prudent monetary policy | 02 August 2021

02 August 2021, USD/JPY

China will maintain a prudent monetary policy

USDJPY trading plan:

China will maintain a prudent, flexible and targeted monetary policy in the second half of the year, its central bank said, as it seeks to support growth while keeping the digital economy in check. China will focus on maintaining stability in its macro policies over the second half, and will not inject massive liquidity through “flood-like” measures, the bank said. The central bank reiterated that China will keep the yuan exchange rate stable within a reasonable and balanced range. This is a good signal for the stock markets and USDJPY, which has a correlation with the shares.

Investment idea: buy 109.52 and take profit 109.95.

David Johnson
Analyst of «FreshForex» company
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