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Soft policy of the Bank of Japan

Soft policy of the Bank of Japan | 22 December 2021

22 December 2021, USD/JPY

Soft policy of the Bank of Japan

USDJPY trading plan:

Some members of the Bank of Japan's policy board said the yen's weakening would have a positive effect on the Japanese economy as a whole even though its impact on boosting exports was not as strong as before, the minutes of a meeting showed. Another member said the weak yen reflects differences in inflation and monetary policy stances in each country, so various channels must be examined such as the real economy and financial markets. The board members agreed that they would not hesitate to take additional easing steps as necessary, while watching effects of the COVID-19 pandemic. The BOJ maintained its view Japan's economy was picking up as a trend, but cautioned that developments surrounding the pandemic and supply constraints cloud the outlook.

Investment idea: buy 114.12 and take profit 114.65.

David Johnson
Analyst of «FreshForex» company
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