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The Bank of Japan is ready to reduce stimulus

The Bank of Japan is ready to reduce stimulus | 12 September 2023

12 September 2023, USD/JPY

USDJPY trading plan:

Bank of Japan policymakers are increasingly talking up the need to shift away from the massive monetary stimulus of the past decade, even as growing global risks heighten concerns about a fragile economic recovery. A series of hawkish comments by BOJ speakers in recent weeks suggest the bank is preparing markets for an eventual policy change amid growing price pressures in deflation-prone Japan. Even dovish members of the BOJ board have expressed an openness to talk about a long-awaited exit from the extremely accommodative policy of former governor Haruhiko Kuroda, acknowledging changes in conditions may warrant a tweak in monetary settings. That is a positive signal for the Japanese yen.

Investment idea: sell 146.85 and take profit 145.80.

David Johnson
Analyst of «FreshForex» company
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