16 June 2023, USD/JPY
USDJPY trading plan:
The Bank of Japan maintained ultra-easy monetary policy despite stronger-than-expected inflation, signalling it will remain a dovish outlier among global central banks and focus on supporting a fragile economic recovery. In theory, a weak yen could be positive for some sectors, but negative for other sectors. The impact depends on when the currency is moving. It's important for currencies to move stably reflecting fundamentals. At present, inflation has exceeded 2% for 13 straight months but could fall below that level ahead. There's uncertainty on whether the future slowdown will be a gradual one, or a quite sharp one.
Investment idea: buy 140.90 and take profit 142.00.
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