22 Agosto 2023, USD/JPY
USDJPY trading plan:
Bank of Japan Governor Kazuo Ueda said that he and prime minister Fumio Kishida held talks on economic developments but did not discuss recent volatile currency moves. The discussions took place in the wake of the dollar's recent ascent above 145 yen, a level that in September 2022 triggered Japan's first yen-buying operation since 1998. Ueda also said he explained to Kishida the Bank of Japan's decision last month to loosen its grip on long-term interest rates. "The premier said he well understood," Ueda added. It was the second such meeting since Ueda assumed the top BOJ post in April. The last one was held on April 10, when the two discussed the need to "guide policy flexibly" given uncertainty over the economic outlook.
Investment idea: range 145.00 -145.90