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BoJ to keep its monetary stimulus in place

BoJ to keep its monetary stimulus in place | 11 August 2023

11 August 2023, USD/JPY

USDJPY trading plan:

Japan's wholesale inflation eased for a seventh month in July as pressure from high global commodity prices eased, a development economists say is likely to encourage the central bank to keep its monetary stimulus in place. The 3.6% rise in the corporate goods price index, which measures the price companies charge each other for their goods and services, is slightly above the median market forecast for a 3.5% annual increase and follows a 4.3% annual increase in June. After peaking at 10.6% in December, wholesale inflation has decelerated for seven months in a row. On the month, wholesale prices rose 0.1%, up for the first time in three months.

Investment idea: buy 144.35 and take profit 145.10.

David Johnson
Analyst of «FreshForex» company
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