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China’s central bank increased its injection

China’s central bank increased its injection | 20 October 2021

20 October 2021, USD/JPY

China’s central bank increased its injection

USDJPY trading plan:

China’s central bank increased its short-term fund injection by offering 100 billion yuan through seven-day reverse repos into the banking system. The People’s Bank of China attributed the move to countering factors including tax payments and government bond issuance in order to keep banking system liquidity reasonably ample, it said in an online statement. China maintained its benchmark lending rate for corporate and household loans for an 18th month. The one-year loan prime rate was kept at 3.85%. The five-year LPR remained at 4.65%. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 113.82 and take profit 114.33.

David Johnson
Analyst of «FreshForex» company
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