09 December 2021, USD/JPY
USDJPY trading plan:
Japan will deny some tax breaks to big companies that do not hike wages while boosting deductions for those that do, as it moves to boost domestic salaries, a final draft of the ruling party's annual tax reform plan showed. Wages in Japan have stayed largely flat over the past 30 years, OECD data shows, causing "lost decades" and grinding deflation, while the ruling LDP and its coalition ally Komeito are expected to endorse the plan on Friday. Lawmakers of Kishida's Liberal Democratic Party have also agreed on tweaks to tax breaks on mortgages in another major reform for the next fiscal year. This is a positive signal for the Japanese stock market and the USDJPY currency pair, as assets correlate with each other. This is a positive signal for the Japanese stock market and the USDJPY, as assets correlate with each other.
Investment idea: buy 113.49 and take profit 114.04.
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