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The BoJ ultra-easy monetary policy

The BoJ ultra-easy monetary policy | 03 August 2023

03 August 2023, USD/JPY

USDJPY trading plan:

Some Bank of Japan board members said domestic inflation might hold above the central bank's 2% target, minutes of their June policy meeting showed, providing insight into BOJ's move last week to let some rates rise along with increasing prices. While one member called for a review of the bank's bond yield control policy "at an early stage," members agreed they did not need to do so for now with market function having improved somewhat, the minutes showed. The discussion highlights how the board did not see an imminent need to tweak yield curve control in June, but decided to do so last week based on changes in market and inflation developments since then.

Investment idea: buy 143.15 and take profit 143.70.

David Johnson
Analyst of «FreshForex» company
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