07 April 2022, USD/JPY
USDJPY trading plan:
The proportion of Japanese households expecting prices to rise a year from now has hit a 14-year high, a central bank survey showed, as inflationary pressures from rising raw material costs grew. The quarterly survey also showed more households felt worse off than three months ago as prices of food and daily necessities rose, highlighting the pain global commodity inflation was inflicting on Japan's fragile economy. Japan has not been immune from surging fuel and commodity prices with wholesale inflation hitting record highs. Unlike central banks in other advanced economies that are hiking interest rates to dampen inflationary pressures, the BOJ has little room to manoeuvre as Japan's economy is still struggling to recover from a pandemic-induced slump.
Investment idea: buy 123.45 and take profit 124.00.
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