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Negative macroeconomic statistics from Japan

Negative macroeconomic statistics from Japan | 21 April 2023

21 April 2023, USD/JPY

Negative macroeconomic statistics from Japan

USDJPY trading plan:

Japan's consumer inflation held steady above the central bank's target in March and an index excluding fuel costs rose at the fastest annual pace in four decades, data showed, indicating broadening price pressure in the world's third-largest economy. The core consumer price index, which excludes volatile fresh food, but includes energy costs, rose 3.1% in March from a year earlier, government data showed, matching a median market forecast. New BOJ Governor Kazuo Ueda has vowed to keep monetary policy ultra-loose until there is more evidence the rise in inflation has become sustainable and driven by strong demand rather than supply pressures.

Investment idea: buy 133.30 and take profit 134.70.

David Johnson
Analyst of «FreshForex» company
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