BoJ is set to maintain its ultra-low interest rates | 07 March 2023

07 March 2023, USD/JPY

BoJ is set to maintain its ultra-low interest rates

USDJPY trading plan:

Japan's real wages fell the most in nearly nine years in January, official data showed, as four-decade-high inflation squeezed the purchasing power of consumers and undercut efforts by policymakers to revive a COVID-ravaged economy. Wage trends in the world's third-largest economy are under close market scrutiny because Bank of Japan officials have said that pay hikes, combined with 2% inflation, are essential to it scaling back its loose monetary policy. Given that wage hikes are gathering momentum towards the annual labour negotiations this month, the Bank of Japan will come under pressure to tweak its yield curve control as early as this week. Even if it stands pat, it will stay under pressure.

Investment idea: buy 135.45 and take profit 136.14.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus