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BoJ preparing to taper?

BoJ preparing to taper? | 02 October 2023

02 October 2023, USD/JPY

BoJ preparing to taper?

USDJPY trading plan:

Bank of Japan Governor Kazuo Ueda said considerations over the central bank's finances would not prevent it from phasing out its massive monetary stimulus when the appropriate time comes. While Ueda said there was "still a distance to go" before the BOJ exits ultra-loose monetary policy, his remarks come at a time when markets are rife with speculation, he will dismantle his predecessor Haruhiko Kuroda's radical stimulus programme. "The objective of the Bank's monetary policy is achieving price stability, which is its mission as stipulated by law. Considerations of the Bank's finances, etc. do not prevent it from implementing necessary policies," Ueda said in a speech at an annual meeting of the Japan Society of Monetary Economics.

Investment idea: buy 149.37 and take profit 149.94.

David Johnson
Analyst of «FreshForex» company
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