Japan's core consumer prices slowed in July | 18 Agustus 2023

USDJPY trading plan:

Japan's core consumer prices slowed in July, supporting expectations the Bank of Japan will be in no rush to phase out monetary easing, even as inflation remains stubbornly above the central bank's target. The 3.1% rise in the core consumer price index, which includes oil products but excludes volatile fresh food prices, matched a median market forecast, following a 3.3% increase the previous month. It held above the BOJ's 2% inflation target for the 16th straight month. The so-called core-core inflation index, which excludes fresh food and energy prices and is closely watched by the BOJ as a better gauge of trend inflation, rose 4.3% year-on-year in July, accelerating from the previous month.

Investment idea: range 145.00 -145.90