19 September 2023, USD/JPY
USDJPY trading plan:
The Bank of Japan's ultra-loose monetary policy, which was aimed at "buying time" to push through structural reforms, will eventually end as inflation accelerates, Japanese industry minister Yasutoshi Nishimura said. While Nishimura is not directly in charge of liasing with the BOJ on monetary policy, he belongs to a group of ruling party lawmakers who support the reflationist policies pursued by former Prime Minister Shinzo Abe. The BOJ's massive stimulus programme was put in place in 2013 as part of Abe's "Abenomics" stimulus policies aimed at pulling Japan out of deflation and economic stagnation. "Monetary easing was a policy aimed at buying time for Japan to push through a growth strategy and structural reforms, and move back toward a growth path," Nishimura said.
Investment idea: buy 147.50 and take profit 148.02.
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