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BoJ not ready to change monetary policy

BoJ not ready to change monetary policy | 09 November 2023

09 November 2023, USD/JPY

BoJ not ready to change monetary policy

USDJPY trading plan:

Bank of Japan Governor Kazuo Ueda said companies were becoming more active than before in raising prices and wages, signalling his conviction the country was making progress towards sustainably hitting the bank's 2% inflation target. Whether wage hikes will broaden and firms begin to lift prices will be key to judging whether the BOJ's inflation target can be met in a sustainable fashion, Ueda told parliament. Ueda said it was hard to say now in what order the BOJ could end negative rates and yield curve control, as that would depend on economic and financial conditions at the time.

Investment idea: buy 150.85 and take profit 151.48.

David Johnson
Analyst of «FreshForex» company
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