13 June 2022, USD/JPY
USDJPY trading plan:
Japan's government and central bank they were concerned by recent sharp falls in the yen in a rare joint statement, the strongest warning to date that Tokyo could intervene to support the currency as it plumbs 20-year lows. The statement underscores growing concern among policymakers over the damage that sharp yen depreciation could inflict on Japan's fragile economy by hurting business activity and consumers. "We have seen sharp yen declines and are concerned about recent currency market moves," the Ministry of Finance, BOJ and the Financial Services Agency said in the joint statement released after their executives' meeting. The yen's sharp declines have inflated already rising raw material import costs, jacking up households' living costs and putting pressure on the BOJ to address creeping inflation.
Investment idea: sell 134.75 and take profit 134.07.
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